Northmarq’s Fresno office completes $10.075M sale of Brio on Broadway apartments

FRESNO, Calif. (Jan. 2, 2024) — Northmarq’s Fresno Multifamily Investment Sales team of Robin Kane and Brendan Kane successfully brokered the sale of a 54-unit multifamily community for $10.075 million. Located at 1636 Broadway St. in Fresno, Brio on Broadway was built in 2015 and features spacious one-, two- and three-bedroom floor plans averaging ±785 sq. ft.

Northmarq represented the seller, a Northern California private investor. The buyer was a family office based in the East Bay.

“This was a buyer who had a need to acquire before year end,” Robin Kane said. “They had been looking at The Brio for several months but there were compelling financial reasons for a close in 2024. It was an all-cash transaction completed start to finish in less than a month.”

The property boasts a high walkability score and is within a 5-minute drive to the 41, 99 and 180 Freeway connecting Fresno to Visalia, Bakersfield and the Bay Area. Residents enjoy close proximity to public transit and the future location of the Fresno Station High Speed Rail, as well as Fresno’s third largest employer, Community Regional Medical Center.

In addition to an unbeatable location, Brio on Broadway features luxurious units with energy-efficient stainless-steel appliances, natural quartz countertops, wood plank and polished concrete flooring, attached garages and more. Community amenities include: Controlled access, security camera system, outdoor picnic and lounge area and laundry facility.