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The Mogharebi Group closes on 142-unit multifamily community in Sacramento
The Mogharebi Group has arranged the $15.75 million sale of Continental Terrace in South Sacramento. Senior Vice President Robin Kane and Vice President Brendan Kane represented the seller in the transaction, who is a Southern California private investment group from the retail sector.
Located at 6915 Lewiston Way, Continental Terrace is a 142-unit multifamily community with a mix of studio and one-bedroom floor plans ranging in size from 423 to 716 square feet. Community amenities include a swimming pool, dedicated parking, and laundry facilities. The property is situated on a 5.14-acre site that includes excess vacant land with the potential to develop up to 16 ADUs.
“Sacramento has roughly the lowest apartment supply of all metro markets in California as a percentage of overall inventory, which has created pent-up rental demand,” said Robin Kane. “Combine that with a fully occupied, quality asset offering additional development potential, and we completed one