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9/23/16
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A 10-unit, two-building apartment complex in Pleasanton was acquired by a private investor group in a recent, $3.27 mil ($327k/unit) transaction. The property, located at 4324 Railroad Ave, was sold by a private investor.
The property is situated on over one-third of an acre between First and Main streets in downtown Pleasanton with access to a wide variety of shops, restaurants, services and parks. Each apartment averages just under 700 sf and has two bedrooms, one bathroom and either a private yard or balcony.
The complex also has a laundry room and parking on-site. Rents averaged $1,850 per month at the time of sale. The two buildings were built in 1986 and had a series of capital improvements in previous years including updates to the windows, roof and paint and new air conditioners.
Transwestern Vice President David Weglarz represented the seller in the transaction. Robert Johnston, vice president at Marcus & Millichap, represented the buyer.
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