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Marcus & Millichap completes $5.6M sale of Sacramento multifamily

The 34-unit property at 915 Johnfer Way sold for $5.6 million, or $164,705 per unit, with MMCC arranging $3.7 million in acquisition financing.

Reported · Written up by our desk · Residential

Marcus & Millichap has closed the sale of 915 Johnfer Way, a 34-unit multifamily property in Sacramento’s Greenhaven neighborhood, ConnectCRE reports. The transaction price was $5.6 million, which works out to $164,705 per unit.

Marcus & Millichap Capital Corporation, MMCC, secured $3.7 million in acquisition financing for the buyer. The firm also arranged a five-year loan at 70% loan-to-value with a national bank, including a 5.85% interest rate and a 30-year amortization period.

The seller was an LLC, and the property, built in 1968, was marketed by the Levin Johnston team out of Marcus & Millichap’s Palo Alto office, which also procured the buyer, a local private investor.

ConnectCRE says the buyer plans an extensive renovation program and continued improvements, aiming to capitalize on strong tenant demand and anticipated rent growth in the Greenhaven area.

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