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California  + Bay Area  + Apartments  | 

Luxury Multifamily Building Sells in Downtown Sacramento

Got tickets to an upcoming Sacramento Kings game – and about 19 minutes to walk to The Golden 1 Center? A newly developed, 75-unit luxury community may be of interest. It certainly is to Cushman & Wakefield and D&S Development, who just bought it.

Cushman & Wakefield, in a news release, is announcing the firm has represented D&S Development in the disposition sale of a multifamily community located at 1430 Q St. in Sacramento, Calif. Built in 2020, the Midtown asset consists of a single, eight-story building that totals 95,461 square feet of living space, with 8,744 sf of ground floor retail space.

The building has notable credentials, too, per the release: 

  • The award-winning asset is one of the tallest, light-wood-frame buildings in the U.S.
  • It is 99 percent occupied
  • It sold for $57.1 million (equal to a ~$761,333 per unit)

Jason Parr, Scott MacDonald, John Hansen, Michael Bissada, and Sydney Ladrech with Cushman & Wakefield’s Multifamily Advisory Group in Northern California represented D&S Development, a Sacramento-based firm, in the transaction.

“Sacramento remains one of the nation’s fastest growing and top performing apartment markets and has flourished the past several years. This strong resident growth has fueled rent growth, while new construction has still remained constrained,” said Jason Parr, Executive Managing Director.   

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  • ◦Sale/Acquisition
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