A 131-unit apartment community in Sparks, Nev., has sold for $13 million, according to an announcement Monday from Marcus & Millichap Real Estate Investment Brokerage Co.


The sales price for the 131-unit apartment community represents $99,237 per unit and $84 per square foot.


Built in 1988, Mountain Meadows is located at 3230 Wedekind Road. The apartment community consists of all two-bedroom units ranging in size from 950 square feet to 1,200 square feet. The complex is situated on 7.07 acres and offers 154,020 rentable square feet.


Kenneth Blomsterberg, a senior investment associate in Marcus & Millichap’s Sacramento office, along with Christopher LoBello of Marcus & Millichap’s Las Vegas office, represented the seller in the transaction. They also secured and represented the buyer. The seller was Fishman Trust and Durell Trust. The buyer was MM Condominiums LLC, a locally based Reno company.


Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage focusing exclusively on real estate investments.


What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
FLASH SALE: Get your August Connect Now ticket for only $49.Get the deal!×