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Sacramento Apartment Complex Sells Above Market

SACRAMENTO, CA-The sale of the Cottage Square Apartments at a rate higher than the listing price confirms the increasing investment value of real estate within today's slumping economy.

By Michelle Savage | Updated on March 07, 2003

SACRAMENTO, CA-A private investor, Alegria Hipalito, has purchased a 28-unit apartment community in Sacramento for $1.73 million, which realtors say was $20,000 more than the listing price.

Hipalito bought Cottage Square Apartments, a two building, 28-unit apartment community located at 2412 Cottage Way, from Sacramento-based John H. Olson Family LT. The property, averaging 98% occupancy last year, is a stick-frame and stucco exterior building with a flat roof.

Carl Greenhalgh and Walter Helm of Sperry Van Ness represented the seller, while Severa Escober represented the buyer.

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