100-unit garden-style multifamily community changes hands in Sacramento
Rosemont Terrace, a 100-unit garden-style multifamily community in Sacramento, Calif., has sold for $17.9 million.
The Mogharebi Group (TMG), a real estate investment and advisory firm specializing in the multifamily property sector throughout the western United States, represented the seller, an unnamed Southern California–based private investment group.
Built in 1970, Rosemont Terrace consists of a mixture of one-, two- and three-bedroom apartment homes housed in 15 two-story residential buildings on a nearly five-acre site. Community amenities include a swimming pool, laundry facilities, an outdoor picnic area and carport parking.
The property benefits from several demand drivers, such as close proximity to the Sacramento Unified School District. Rosemont Terrace is within walking distance to the elementary, middle and high schools in the neighborhood, and the community’s residents are also within a 30-minute commute to nearly 800,000 jobs.