Margaret L. Tendler of Sacramento paid slightly more than $1.3 million for the 31-unit apartment complex at 425 N. Vineyard St. in a purchase that gave her a well-maintained property with only a single vacancy. "The pride of ownership showed through," Ric Holway, with Marcus & Millichap tells GlobeSt.com of the property's appeal.
Holway said the block-and-concrete complex, comprised of one- and two-bedroom apartments and townhouse units along with a three-bedroom and a lone studio apartment, drew bids from at least two other prospective buyers, but it was Tendler's offer that came closest to the $3.5-million asking price.
Located near Country Club Drive and Main Street, the Spanish-style property, built in 1968, features a pool, barbecue, covered parking and laundry facilities...and rents ranging from $400 to $950 per month. Holway represented buyer and seller, Mark A. Yovso of Mesa, in the transaction.
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