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MULTIFAMILY NEWS
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Sonoma Apartment Property Sells for $183k/Unit

9/18/14

Sonoma Mission Apartments, a 43-unit apartment property located in Sonoma, sold for $7.85 mil ($182.5k/unit). The property, located at 18161 Happy Lane, just west of Sonoma Hwy, was sold by a private investor.

The property consists of four buildings containing two one-bedroom/one-bath units measuring approximately 700 sf, 20 two-bedroom/one-bath units measuring approximately 835 sf, 13 two-bedroom/one and a half-bath units measuring approximately 1k sf and eight three-bedroom/two-bath units measuring approximately 1.3k sf. In addition, the offering includes two additional parcels, which may provide for the development of additional units.

Erich Reichenbach out of Marcus & Millichap’s San Francisco office represented the seller in the transaction.





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