Apartments Near UC Davis Trade After 22-Year Hold

Marcus & Millichap finalized the sale of Sterling Pointe Apartments, a 57-unit apartment property located in Davis. The sale price was $13,350,000.

“This sale marks the largest apartment transaction in Davis since January 2023,” said John Garrett, first VP investments in Marcus & Millichap’s San Francisco office. Garrett and Brad Pennington, SVP investments in the firm’s San Francisco office, marketed the property on behalf of the sellers, a family trust. 

“The sellers strategically decided to sell after a 22-year hold to complete a 1031 exchange into a larger asset they had already put under contract,” added Garrett. “The buyer, an affiliate of James Investment Partners from Encino, recognized the significant value-add opportunity the property presents. They are committed to enhancing Sterling Pointe with plans to upgrade the apartments to better serve the student community, invest in modernizing the property’s aging systems, and improve the landscaping.” Garrett and Pennington also procured the buyer.

Built in 1966, Sterling Pointe Apartments is located at 1805 Anderson Rd. in Davis and is primarily occupied by UC Davis students.