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 decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.