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February 22, 2020
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Davis Res Property Trades for $42 Mil

2/14/20

Cambridge House, a 140-unit community in Davis, CA, sold for $42 mil, or $300k per unit. The property is located at 619 Pole Line Rd, about 15 miles west of downtown Sacramento.

Built on 3.92-acre site, Cambridge House boasts a resort-style swimming pool with poolside fire pit & BBQ area with hammocks. A game room at the property features a full-sized air hockey table, pop-a-shot basketball, full-sized pool table, and ping pong. There is also a relaxing swing garden with hanging chairs, secure access bicycle storage room with 20 bicycle racks and an off-leash dog park.

Alex Mogharebi and Otto Ozen of The Mogharebi Group represented the seller, a private investment group based on the east coast, and the buyer, based in the Bay Area. The listing generated multiple offers.

“Cambridge House is located near the University of California Davis, a top ranked regional university in the U.S. The property is in turnkey condition, highly amenitized and offers a student housing conversion repositioning upside. As a result, there was a significant amount of buyer interest,” said Ozen.

The University of California, Davis is considered a Tier-1 research university, with an endowment of $1.66 bil in 2019. It has experienced positive growth and expansion in recent years and as of fall 2019, had a total student population comprising 39,629 undergraduate and graduate students.




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