Southern California Investor Acquires 152-Unit Laurel Glen Multifamily In Manteca For $40.75M

A Southern California-based private investor has acquired a multifamily property located at 574 Button Avenue, Manteca, for a total consideration of $40.75 million. The asset, known as Laurel Glen, comprises 152 units with a price per unit of approximately $268,000. The property was constructed in 1985 and features both one- and two-bedroom units equipped with modern amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $40,750,000
• Units: 152
• Price Per Unit: $268,092
• Address: 574 Button Avenue
• Market: Manteca

The transaction was facilitated by brokers Brian Nakamura, Nazli Santana, and Otto Ozen, representing The Mogharebi Group. The seller was a Northern California investor who completed the deal through this representation.