Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Manteca Golf & Tennis Villas, a 56-unit multifamily property in Manteca, California.
“Manteca Golf & Tennis Villas’ Central Valley location places it in the midst of an economically expanding region with an acute housing shortage,” said Stephen Jackson, senior director in Marcus & Millichap’s San Francisco office. Jackson and Joe Owens, Marcus & Millichap senior director, represented the seller. “Manteca, located in the Central Valley of California, has become a focal point for job growth in logistics, distribution, advanced manufacturing, and healthcare, yet has struggled to keep pace with housing production,” said Owens.
Completed in 1985, Manteca Golf & Tennis Villas has a swimming pool, laundry facilities, and a tennis court. Apartments have washer and dryer connections, hardwood floors, and walk-in closets.
The property is surrounded by the Manteca Park Golf Course and Manteca Tennis Courts. Interstate 5, Interstate 99, and Highway 120 are close by and The Promenade Shops at Orchard Valley is within walking distance. The Lathrop/Manteca train station, Kaiser Permanente Manteca Medical Center, and the Stadium Center shopping mall are within a short drive.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
