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California  + Apartments  | 

Sacramento Multifamily Sale Achieves Market’s Highest Price Per Unit in Four Years

CBRE facilitated the $34.5-million sale and acquisition financing for 16 Powerhouse, a 73-unit multifamily community in Sacramento, to Oakmont Properties. According to CBRE, this was the highest price-per-unit sale in the Sacramento area in four years.

Marc Ross, Joe McNamara and Clarie Holt of CBRE represented the seller, Demmon Partners. Andrew Behrens and Jesse Weber of CBRE Capital Markets’ Debt and Structured Finance team in San Francisco secured the loan on behalf of the buyer.

“16 Powerhouse is among the most competitive multifamily assets in the Sacramento market,” said Ross. “Its central location paired with Demmon Partners’ expansive renovations position the property well for long-term performance under new ownership.”

Located at 1606 P St. in Sacramento, the six-story building is made up of one- and two-bedroom floor plans and ground-floor retail tenants including Orchid Thai, Magpie and Temple Coffee. 16 Powerhouse was built in 2015, with an addition completed in 2024 by previous ownership.

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CBRE's Ross

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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