Monte Christo Communities Purchases Multifamily Asset From Edward And Susan Chen For $8M

The transaction involved a multifamily asset located at 5200 Crest Road in the Merced market. The property was sold for $8,000,000, consisting of 97 units. The total square footage of the asset is 396,396, resulting in a price per unit of $82,474 and a price per square foot of $20.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,000,000
• Units: 97
• Square Footage: 396,396
• Price per Unit: $82,474
• Price per Square Foot: $20
• Buyer: Monte Christo Communities
• Seller: Edward and Susan Chen
• Brokers: Pierce Brazil, Dylan Brazil, Giovanna Brazil, Dimitre Petrov, Thomas Beniamen & Nolan Rockwell - Commercial Real Estate Investors

This multifamily property transaction was facilitated by a group of brokerage professionals, including Pierce Brazil, Dylan Brazil, Giovanna Brazil, Dimitre Petrov, Thomas Beniamen, and Nolan Rockwell, all representing the seller, Edward and Susan Chen, in this closure. The transaction highlights the collaborative effort of these brokers within the commercial real estate investment sector.