Sentinel staff report–
An expansive senior housing complex on Auburn Boulevard has been sold for $54 million, according to a report last month by the Sacramento Business Journal.
Arcade Creek Manor, located at 6546 Auburn Blvd., is a 15-acre housing community with 292 units. The sale price equates to about $185,000 per unit, which is significantly less than the $292,000 price per unit of the 410-unit Autumn Ridge Apartments, which sold last year for $120 million.
From last year: Massive 410-unit apartment complex in Citrus Heights sells for $120M
According to The Journal, Arcade Creek Manor was built in 1973 and had been under the same ownership for nearly 50 years. The new owner appears to be 29th Street Capital.
The website for Arcade Creek Manor shows floor plans range from $1,300 per month for a 506-square-foot studio unit to $1,650 per month for a 743-square-foot, two-bedroom apartment. Amenities listed include a pool, nearby walking paths, outdoor seating and expansive landscaping.
Another complex, The Woods, sold last year for $25 million near Stones Gambling Hall. With 124 units, the price per unit averaged $204,000, with slightly larger floor plans ranging from 650 to 900 square feet.
Sentinel staff report--
An expansive senior housing complex on Auburn Boulevard has been sold for $54 million, according to a report last month by the Sacramento Business Journal.
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