The Mogharebi Group (TMG) has arranged the $15.75 million sale of Continental Terrace in South Sacramento, California. Senior Vice President Robin Kane and Vice President Brendan Kane represented the seller in the transaction, who is a Southern California private investment group from the retail sector.
Located at 6915 Lewiston Way, Continental Terrace is a 142-unit multifamily community with a mix of studio and one-bedroom floor plans ranging in size from 423 to 716 square feet. Community amenities include a swimming pool, dedicated parking, and laundry facilities. The property is situated on a 5.14-acre site that includes excess vacant land with the potential to develop up to 16 ADUs.
“Sacramento has roughly the lowest apartment supply of all metro markets in California as a percentage of overall inventory, which has created pent-up rental demand,” said Robin Kane. “Combine that with a fully occupied, quality asset offering additional development potential, and we completed one of South Sacramento’s largest multifamily transactions in the last year despite some of the most turbulent market conditions.”
According to CoStar data, the property traded as one of the largest sales by unit count in the submarket during the past 12 months.
With historically low vacancy and in-place rents below market, the property also presented the opportunity for immediate rental upside.
“Multifamily transactions of this size are fairly rare in South Sacramento, which stimulated considerable interest in Continental Terrace,” added Brendan Kane. “We generated multiple offers from investors that recognized the opportunity to enhance yield and capture significant upside by making operational improvements and increasing rents to market level.”
As a leader in multifamily investment advisory since its founding in 2015, The Mogharebi Group has been especially active in the Central Valley—closing on more than 10,000 units in the region with total value exceeding $1 billion.