Oakmont Properties Acquires 73-Unit Multifamily Asset In Sacramento For $34.5 Million

The property involved in this transaction is a multifamily asset located at 1606 P Street, Sacramento, CA. It consists of 73 units and was sold for $34,500,000, resulting in a price per unit of $472,603. The asset is housed within a renovated six-story building that includes retail tenants and has been positioned as a stabilized, centrally located multifamily investment.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $34,500,000
• Address: 1606 P Street
• Market: Sacramento, CA
• Units: 73
• Price Per Unit: $472,603
• Buyer: Oakmont Properties
• Seller: Demmon Partners
• Brokers: Marc Ross, Joe McNamara & Claire Holt - CBRE
• Mortgage Brokers: Andrew Behrens & Jesse Weber - CBRE

This transaction was orchestrated by a team from CBRE, who arranged not only the sale but also the acquisition financing, marking the highest price-per-unit for multifamily sales in Sacramento in the last four years. The deal included significant involvement from the brokers, highlighting their role in navigating this transaction for both the buyer and the seller.