Sacramento’s 16 Powerhouse apartment building, a “luxury” mixed-use space across from Fremont Park in midtown, has sold for $32.5 million. It’s a record price in a market that continues to see growing demand and interest, said Ken Turton of Turton Commercial Real Estate, which brokered the deal. Sacramento-based Demmon Partners purchased the building from developer D&S Development. The company completed the project in 2015. – March 2018

16 Powerhouse is a 6.5 story mid-rise project comprised of 50 one and two bedroom luxury apartment units over 7,800 square feet (SF) of retail. Each luxury apartment includes a balcony, in-unit washer/dryer, genuine stone counters and tiles, wood floors, level 5 smooth finish walls, premium thermafoil kitchen cabinetry and bathroom vanities, walk-in closets, Bosh/Bertazonni appliance package and much more. All of the upper floor units are two-story Penthouses and every unit in the property is considered “best in class” for its respective category. The property also includes 38 parking stalls of which 25 are vertically stacked.

In addition to the highest quality finishes in Sacramento, 16 Powerhouse enjoys one of, if not, the best locations in Midtown. Prominently positioned on a 19,200 sf parcel on the Southeast corner of 16th and P Street, virtually all of the units enjoy unobstructed balcony views of Fremont Park and many have panoramic views of the downtown skyline and the State Capitol. The Property also includes a completed condominium map for all residential and retail units providing investors with multiple disposition strategies with potentially greater returns.