VACAVILLE, CA –Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has brokered the sale of River Oaks Apartments (top left photo), a 318,768-square foot luxury apartment complex in Vacaville, approximately 54 miles from San Francisco and 35 miles from Sacramento.
The sales price of $52,400,000 represents $167,949 per unit and $108 per square foot.
Stan Jones (middle right photo), executive vice president investments, Phil Saglimbeni (middle left photo), vice president investments and Sal Saglimbeni (lower right photo), vice president investments, represented the seller, GID. Jones, Phil Saglimbeni and Sal Saglimbeni also represented the purchaser, Sequoia Equities Inc.
“River Oaks Apartments is well positioned for future rent growth given its amenities and superior location in a natural extension of the core Bay Area,” says Jones.
“This is an exceptionally well-maintained high-quality property with an ideal location,” adds Phil Saglimbeni. “The complex is proximate to the major metros of the East Bay and provides its residents with access to local employers and also to job centers in both directions along the Interstate 80 corridor.”
River Oaks Apartments is located at 1000 Allison Drive, a five-minute drive from historic downtown Vacaville. Access to major retail centers, including Vacaville Premium Outlets, The Commons and the Nut Tree Shopping Center is nearby.
Built in 2000 on 7.7 acres, the property features a mix of one-, two- and three-bedroom floor plans averaging 1,022 square feet.
The two- and three-story buildings are accentuated with Mediterranean details, textured stucco and pitched concrete tile roofs. Amenities include a resort-style lap pool and spa, sports court, fitness center, children’s play structure, clubhouse and business center.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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