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CBRE Brokers $22.5M Acquisition of The Davenport Multifamily Property in Sacramento

The-Davenport-Apts-Sacramento-CA

Located in Sacramento, The Davenport features 126 apartments, a swimming pool, clubhouse/leasing office, fitness center and laundry facilities.

SACRAMENTO, CALIF. — CBRE has negotiated the sale of The Davenport, an apartment community located at 941 43rd Ave. in Sacramento. An affiliate of Abacus Capital Group sold the asset to an undisclosed buyer for $22.5 million.

The seller invested in extensive capital renovations to the building exteriors and common area spaces while upgrading 10 percent of the unit interiors. Built in 1970, the 126-unit property features an upgraded swimming pool; remodeled clubhouse, leasing office and fitness center; barbecue area with two gas grills; dog park; laundry facilities; secured gate access; and covered parking.

Marc Ross of CBRE’s Sacramento office brokered the sale.

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