**Fresno-Area Multifamily Property Sells for Over $19 Million**
Northmarq’s Fresno-based Multifamily Investment Sales team, led by Robin Kane and Brendan Kane, has successfully brokered the sale of Tempranillo Apartments, a 64-unit multifamily community located in Clovis, California. The property sold for more than $19 million.
Tempranillo Apartments, constructed in 2019, is situated at 2445 E. Copper Avenue in the Woodward Park neighborhood, a desirable suburban area in Clovis. The seller, an East Coast-based investment group, was represented by Northmarq in the transaction. The buyer is a California-based family office.
“Tempranillo presented several challenges ranging from COVID eviction protection hangover effects to below-market occupancy,” said Robin Kane, managing director at Northmarq. “Through both professional management and a proactive marketing plan, Tempranillo closed with zero vacancies and no delinquent rents.”
Despite the hurdles, the sale underscores continued investor interest in high-quality multifamily assets across California’s secondary markets. Tempranillo Apartments has attracted attention due to its prime location and modern construction. The community features energy-efficient units with upscale finishes, including quartz countertops, stainless steel appliances, and in-unit washers and dryers. Demand remains strong for newer-generation communities in well-located neighborhoods, contributing to the property’s appeal and successful closing.
