|
|
11/02/16
|
A San Francisco-based private investment group purchased Solaris Apartments, a 68-unit multifamily community in Hayward, for $14.29 mil, or $209.8k/unit. The property is located at 24661 Amador St, south of Winton St, between I-880 and Jackson St, about 15 miles south of Oakland.
The garden-style, low-rise apartment community covers two acres and is comprised of 52 one-bedroom/one-bath units (630 sf) and 16 two-bedroom/one-bath units (860 sf). Amenities at Solaris Apartments include a pool and well-landscaped courtyards.
Solaris Apartments was sold by TDT Ventures, a partnership of San Francisco-based Thompson | Dorfman Partners LLC and BayNorth Capital of Boston. TDT purchased Solaris Apartments in 2008 for $7.1 mil.
During its ownership, TDT repositioned what had been a poorly maintained and poorly managed 1960s-apartment building to provide quality and affordable workforce housing. They spent a little more than a million dollars in making significant property improvements including a new controlled access gate system, updated exterior paint, new building signage, upgraded exterior lighting, replacement of air-conditioning units, and the renovation of unit interiors.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
