RK Properties has sold the Walnut Village, a 144-unit garden-style apartment property located in Sacramento, Calif.
The $17 million sale was facilitated by RK Properties on behalf of its 1031 Exchange TIC (Tenant–in-Common) investment program and the RK Multifamily Income Fund XIV.
Walnut Properties, constructed in 1987, sold for a premium above the investors’ 2003 purchase price of $10,.15 million.
Since its founding in 1976, RK Properties has purchased and managed more than $1.5 billion in multifamily apartment assets. The company offers multifamily replacement properties for 1031 tax deferred exchanges, as well as fund investment opportunities for accredited investors who are seeking a real estate investment.
