Local Private Investor Acquires The Colony House Apartments For $5.6 Million In Sacramento

The Colony House Apartments is a multifamily property located at 915 Johnfer Way in Sacramento, California, comprising 34 units. The asset is situated on 1.14 acres and has a total square footage of 26,569. The sale was completed for a price of $5,600,000, with a price per unit of $164,706 and a price per square foot of $211.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,600,000
• Units: 34
• Square Footage: 26,569
• Address: 915 Johnfer Way
• Market: Sacramento, CA
• Acres: 1.14
• Price Per Unit: $164,706
• Price Per Square Foot: $211

Adam Levin and Robert Johnston from Marcus & Millichap represented the seller in this transaction. Chad O’Connor from Marcus & Millichap Capital Corporation acted as the mortgage broker, securing $3.7 million in acquisition financing for the buyer, a local private investor, who intends to implement extensive renovations to enhance the property’s value in response to demand in the Greenhaven neighborhood.