S.F. Bay Area multifamily complex changes ownership

Marcus & Millichap brokered the sale of the 89,193-square-foot Pavilions at Tyson Lane apartments in Fremont, Calif. 

The value of the transaction was $16.2 million.

The Pavilions at Tyson Lane is located at 38740 Tyson Lane. The property was constructed in 1992 and includes approximately three acres. The unit mix is composed of 27 one-bedroom and 57 two-bedroom apartments, ranging in size from 864 to 1,221 square feet.

A Northern California investment partnership sold the property to a Yuba City, Calif.-based investor.

At the time of sale, occupancy was 99 percent.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

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