565-Unit The Eleven Hundred in Sacramento Trades for $119MM

CBRE Sacramento OpenPath Investments KF Properties Arden-Arcade The Eleven Hundred

Sacramento – September 28, 2022 – CBRE has arranged the $119 million ($210,619 per unit) sale of The Eleven Hundred, a 565-unit, 45-building multifamily community in the Arden-Arcade submarket of Sacramento. 

Marc Ross with CBRE’s Sacramento Multifamily Investment Properties group represented the seller, Northern Calif.-based, OpenPath Investments, in the transaction. The property was purchased by Beverly Hills, Calif.-based private investor KF Properties, Inc.

Located at 1100 Howe Ave., and built in 1963, The Eleven Hundred features studio, one-, two-, three- and four-bedroom units averaging 775 square feet. OpenPath invested extensive capital in exterior and community upgrades including recent exterior paint and siding, renovating the tennis courts, pool bathrooms and clubhouse, a complete electrical overhaul, exterior lighting, fencing and more. Community amenities include a clubhouse, a fitness room, a swimming pool and hot tub, a garden, tennis and basketball courts, a playground, and a grilling and picnic area.

The property is located minutes from I-80, Highway 50 and Highway 160, providing connectivity to Downtown Sacramento. Residents also have direct access to nearby recreation, retail and entertainment amenities as the property is proximate to the American River Parkway, the Sacramento Zoo, Arden Fair Mall, and Sacramento State University.

“The Eleven Hundred has the most expansive amenity set in the area and offers the buyer a unique opportunity to implement a full unit renovation,” said CBRE’s Marc Ross.  “KF Properties has a stellar track record with large scale renovations and I’m excited to see how they reposition the asset.”

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

West Coast Commercial Real Estate News