A recently developed multifamily complex is being marketed for sale in Roseville. Harvest at Fiddyment Ranch is located at 1900 Blue Oaks Blvd. within the Fiddyment Ranch master-planned community.
The property includes 300 units and is expected to attract bids of $105 million or $350,000 per unit. CBRE’s Marc Ross is representing the seller, USA Properties Fund Inc. of Roseville. USA Properties developed the property in 2020.
“Roseville has benefited as a premier destination for suburban outflow from the Bay Area,” said Ross. “Harvest at Fiddyment Ranch experienced extraordinary lease-up velocity during the pandemic despite restricted resident access to amenities.”
The class-A property is currently 96 percent occupied. Average in-place rent at the property is about $1.99 per square foot.
“Asking rents are approximately $0.10 to $0.30 per square foot higher at competitive properties with greater access to retail amenities, schools and entertainment destinations. This suggests that with the completion of the Raley’s-anchored shopping center development next door and further maturation of the property’s micro-location, the Harvest at Fiddyment Ranch is poised to capitalize on this infill premium and experience significant near-term rental growth,” adds Ross.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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