Commercial real estate brokerage firm Marcus & Millichap has arranged the $4.25 million sale of Sheridan Plaza, a 33-unit apartment complex in Albany, OR. The firm’s Georgie Christensen-Riley and Joshua C. Reynolds represented the seller and procured the buyer, a Portland, OR-based private-client group.

The seller has owned the property since 2021 and made significant capital improvements to the property including new roofs and gutters, resurfacing the parking lot, adding new windows and a new garbage enclosure. According to Marcus & Millichap’s Christensen Group, the buyer sees an opportunity to continue to increase rents through further renovations.

Located at 208 SE 5th Ave., the property was on the market for 22 days and received multiple offers. The firm says demand in the market remains high despite a challenging lending environment, in part because of limited inventory.