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Apt. Comp in Vallejo

Sharis Apartments Sells for $3 Million
By Jacquie Furtado
October 1, 2002 | 2:13 P.M.

McKinley Partners LLC purchased the 22,600-square-foot Sharis Apartments located at 405 Fleming Ave. in Vallejo, CA. The $3 million sale equates to $93,750 per unit with a 7.41% cap rate. Built in 1975, the complex offers a unit mix of one and two bedroom apartments, laundry, covered parking and sits on 1.15 acres. Brokers John Dailey, Charles Deloney and Michael Mathios of CB Richard Ellis' Sacramento office, who represented seller Claudia Esquivel, report the property was on the market for only seven days before entering escrow. Mark Bennett with LeFever Mattson Property Management represented the buyer.

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