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10/03/23
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Rosemont Terrace, a 100-unit garden-style multifamily community in Sacramento, traded hands in a recent deal valued at $17.9 mil, or $179k/unit. Built in 1970, Rosemont Terrace is located at 3690 S Port Dr.
The property features a mix of one-, two-and three- bedroom apartment homes housed in 15, two-story residential buildings on a nearly five-acre site. Community amenities include a swimming pool, laundry facilities, an outdoor picnic area, and carport parking.
The property benefits from several demand drivers including the highly-rated Sacramento Unified School District. Rosemont Terrace is within walking distance to the elementary, middle, and high schools in the neighborhood. Residents are also within a 30-minute commute to nearly 800,000 jobs.
Otto Ozen with The Mogharebi Group represented the seller, a Southern California-based private investment group. According to Ozen, the buyer plans to improve occupancy by bringing in professional management to improve operations.
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