Sonoma Shadows & Pine Hills Lodge Sell for $60,500/unit

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pinesonomaNAI Vegas’ Sauter Multifamily Group announced the sale of Sonoma Shadows (376 units) and Pine Hills Lodge (376 units) apartment portfolio located at 1750 & 1500 Karen Avenue in Las Vegas for $45,496,000 ($60,500 per unit).

Art Carll and Patrick Sauter represented the seller, Prime Sonoma Shadows LLC. Westland Real Estate Group purchased the 89% occupied property at a 5.58% CAP rate.