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9/01/26
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A 121-unit, two-property multifamily portfolio comprising two apartment communities in Ukiah, CA traded in a recent $23.5 mil deal ($194k/unit). The portfolio consists of:
• Sierra Sunset Village: 505-531 Capps Ln, Ukiah | 68 units
• Alderwood Apartments: 1416 & 1450 S. State St, Ukiah | 53 units
1416 & 1450 S. State St, Ukiah |
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Situated in the heart of Mendocino County, the communities benefit from high occupancy, limited new supply and sustained rent growth. The portfolio offered an opportunity to acquire renovated, family-oriented communities with additional upside through below-market rents and operational enhancements.
Sierra Sunset Village features predominantly two-bedroom apartment homes with open floor plans, high ceilings, stainless steel appliances, hardwood-style flooring and central air conditioning. Community amenities include a swimming pool, fitness center and outdoor picnic area. The community is conveniently located near public transportation, shopping centers and restaurants.
Alderwood Apartments offers a mix of two- and three-bedroom residences featuring energy-efficient appliances, hardwood-style flooring, private balconies and air conditioning. Community amenities include a resort-style swimming pool, covered garage parking and outdoor grilling areas. The community also provides residents with near access to the Ukiah Municipal Airport.
Zach LeBeouf and Anthony Pappageorge with Northmarq represented the seller, Ridge Capital Investors LLC, in the transaction.
“The portfolio offered an opportunity to acquire renovated, family-oriented communities with additional upside through the continuation of the seller’s already-proven interior renovation strategy and the ability to push rents further in a strong rent growth market,” LeBeouf commented.
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