New Buyer Streams Into Riverglen

Donald T. Meagher purchased the apartment complex at 3271 Azevedo Drive in Sacramento, CA. Total consideration for the deal is $11.3 million, or $67,261 per unit at an 7.67 percent cap rate. The Riverglen Apartments total 130,120 square feet and sit on 8.04 acres. Built in 1986, the complex offers a unit mix of 64 one-bedroom/one-baths, 64 two-bedroom/one-baths and 40 two-bedroom/two-baths. The property features storage lockers, laundry, a picnic area and pool that are all available for tenant usage. Charles DeLoney, John Dailey and Michael Mathios with CB Richard Ellis in Sacramento represented the seller. The buyer, Harsch Investment Properties LLC, was self-represented. By: Jacquie Kuhn & Shawn Kelson