Completely Renovated Property Sits in Blossoming Sacramento Submarket
February 07, 2022
SACRAMENTO, CALIF. – Transwestern Real Estate Services (TRS) announces the sale of The Hawthorne Apartments, a 76-unit multifamily community at 5820 Sutter Ave. in Carmichael, California. Transwestern’s Shivu Srinivasan, Robert Dau, Dante Giacomini and Connor McGarty represented the buyer and seller in the off-market transaction, valued at $16.5 million, or $217,000 per unit.
“Transwestern presented a strong offer above the market amount, achieving a price of over $5 million higher than the previous sale price in 2019,” said Srinivasan. “This transaction provided a strong price per unit for the sellers while still identifying tremendous value-add potential for the buyer.”
The Hawthorne Apartments offers a strong unit mix of one-, two- and three-bedroom apartments. The Carmichael/Citrus Heights submarket is one of the most in-demand areas within the Sacramento MSA and boasts one of the lowest vacancies among Sacramento’s 15 submarkets. The property is located off I-80 and is within driving distance of the Bay Area, Lake Tahoe, and the Central Valley.
Photo available for download here.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Media Contact:
Andrew Goodwin
303.952.5597
andrew.goodwin@transwestern.com
twmediarelations@transwestern.com
