DAVIS, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for DaVinci Court Apartments, (top right photo) a 51-unit apartment community in Davis.
The listing price of $13.5 million represents $218 per square foot.
Peter Flis, first vice president investments and a director of the firm’s National Multi Housing Group in Sacramento, is representing the seller, a local partnership that developed the property.
“Davis is one of the best rental markets in the country,” says Flis. “The high demand created by growing enrollment at the campus of the University of California, Davis, coupled with the high barriers to entry, along with a city government that values restrictions on growth, has resulted in a long history of low vacancies and steady rent increases.”
This property is the newest apartment complex in Davis. Built in 2005, the asset is situated on 2.49 acres at 1666 DaVinci Court within walking distance of the university campus.
DaVinci Court’s unit mix is optimal for the Davis market.
This property is the newest apartment complex in Davis. Built in 2005, the asset is situated on 2.49 acres at 1666 DaVinci Court within walking distance of the university campus.
DaVinci Court’s unit mix is optimal for the Davis market.
More than 60 percent of the complex has four-bedroom floor plans and 85 percent of the apartments feature two or more bedrooms. All of the units contain washer and dryer connections.
The property has an assumable loan fixed at 5.28 percent.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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