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June 24, 2024
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NoCal Apartment Property Trades for $21.5 Mil


The Vines on 80, a 63-unit multifamily community in Fairfield, sold for $21.5 mil, or $341k per unit. Built in 2017, The Vines on 80 is located at 3950 Business Center Dr, adjacent to I-80 roughly midway between San Francisco and Sacramento.

The Vines on 80 features one-bedroom, two-bedroom and three-bedroom floorplans all with in-unit laundry, central heat and air, patio or deck area and individual garage or covered parking. Community amenities include club house, rental office, fitness center, outdoor lounge area with gas grill and play structure.

The Vines represented a rare opportunity to purchase a late vintage property with institutional quality amenities in a market with 98% occupancy and 5% rent growth. The property is appealing to “suburban flight” renters, as residents relocate from the major metros to a more affordable market and work remotely.

Ethan Berger and Marco McMullen with NAI Capital’s Berger & Associates team represented the seller in the transaction.

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