Midtown Mixed-Use Project Sells for $540,000 Per Unit

A seven-unit, mixed-use project in midtown Sacramento has sold, at what is believed to be the second-highest per-unit price seen in the region.

Escrow closed at $5.575 million on July 31 on The Lofts at Chestnut, a 2005 project at 1900 O St.

Without including the 4,100 square feet of first-floor retail space, the per-unit price is $540,000 for units that average 1,177 square feet. Only the $32.5 million sale of 16 Powerhouse in March had a higher per-unit price. The sale of the property at 1606 P St. works out to $570,000 per unit without including retail.