The Delta View Apartments, an affordable housing community in Antioch, has sold for just over $22M. Buyer ROEM Development Corp plans to maintain affordable housing status for the 205 fully occupied apartments.
Repping both sides of the transaction, Colliers International senior VP Mark J. Feldman says the Bay Area is in sore need of affordable places to live. To qualify for affordable housing, residents must earn less than 60% of the median income in Contra Costa County.
Delta View Apartments at 3915 Delta Fair Blvd was built in 1963 and became affordable housing in 2000. The sale price of Delta View was about 22% lower per SF than comparable apartment complex sales.
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