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March 29, 2024
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NORTHERN CALIFORNIA NEWS
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Investor Picks Up Antioch Res Complex for $146k/Unit

3/10/15

Village at Park View Apartments, an 85-unit apartment complex in Antioch, CA, recently sold in a transaction valued at $12.4 mil, or $145.9k/unit. The community is located at 2800 Gentrytown Dr, south of Hwy 4 and east of Somersville Rd.

Built in 1980 on more than four acres, Village at Parkview Apartments features 10 two-story buildings and a mix of one-, two- and three-bedroom floor plans. Amenities include a community laundry room, a swimming pool, and ample on-site parking. Situated adjacent to 7.4-acre Village East Park, the property is a five-minute walk from Somersville Towne Center mall and near access to the Bay Area Rapid Transit (BART) system.

Adam Levin, first vice president investments in Marcus & Millichap’s Palo Alto office, and Nathan Gustavson, senior associate in San Francisco, represented the seller. Michael Henshaw, vice president investments in Palo Alto, procured the buyer.

“Multifamily assets such as Village at Park View Apartments are providing East Bay apartment operators with opportunities to reap the benefits of being a low-cost alternative in the Bay Area,” says Levin.

“Located in an area with high growth potential and lower property values than the surrounding Bay Area markets, this investment real estate asset presents the new owner with huge upside potential,” adds Henshaw.






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