Press Releases
Marcus & Millichap Closes Multifamily Asset Sale in Manteca
July 19, 2025
MANTECA, Calif., July 18, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Manteca Golf & Tennis Villas, a 56-unit multifamily property in Manteca, California. The property sold for $15.6 million, or $278,571 per unit.
“Manteca Golf & Tennis Villas’ Central Valley location places it in the midst of an economically expanding region with an acute housing shortage,” said Stephen Jackson, senior director in Marcus & Millichap’s San Francisco office. Jackson and Joe Owens, Marcus & Millichap senior director, represented the seller. Levin Johnston of Marcus & Millichap procured the buyer. “Manteca, located in the Central Valley of California, has become a focal point for job growth in logistics, distribution, advanced manufacturing, and healthcare, yet has struggled to keep pace with housing production,” said Owens. Joshua Velo of Levin Johnston stated: “Leveraging our team’s network at Levin Johnston, we were able to successfully guide our client through the acquisition of Manteca Golf & Tennis Villas, a turnkey multifamily asset that was strategically targeted due to proximity to the San Francisco Bay Area, strong economic and employment growth, and sustained rental demand.”
The property is surrounded by the Manteca Park Golf Course and Manteca Tennis Courts. Interstate 5, Interstate 99, and Highway 120 are close by and The Promenade Shops at Orchard Valley is within walking distance. The Lathrop/Manteca train station, Kaiser Permanente Manteca Medical Center, and the Stadium Center shopping mall are within a short drive.
Completed in 1985, Manteca Golf & Tennis Villas has a swimming pool, laundry facilities, and a tennis court. Apartments have washer and dryer connections, hardwood floors, and walk-in closets.
“Manteca Golf & Tennis Villas’ Central Valley location places it in the midst of an economically expanding region with an acute housing shortage,” said Stephen Jackson, senior director in Marcus & Millichap’s San Francisco office. Jackson and Joe Owens, Marcus & Millichap senior director, represented the seller. Levin Johnston of Marcus & Millichap procured the buyer. “Manteca, located in the Central Valley of California, has become a focal point for job growth in logistics, distribution, advanced manufacturing, and healthcare, yet has struggled to keep pace with housing production,” said Owens. Joshua Velo of Levin Johnston stated: “Leveraging our team’s network at Levin Johnston, we were able to successfully guide our client through the acquisition of Manteca Golf & Tennis Villas, a turnkey multifamily asset that was strategically targeted due to proximity to the San Francisco Bay Area, strong economic and employment growth, and sustained rental demand.”
The property is surrounded by the Manteca Park Golf Course and Manteca Tennis Courts. Interstate 5, Interstate 99, and Highway 120 are close by and The Promenade Shops at Orchard Valley is within walking distance. The Lathrop/Manteca train station, Kaiser Permanente Manteca Medical Center, and the Stadium Center shopping mall are within a short drive.
Completed in 1985, Manteca Golf & Tennis Villas has a swimming pool, laundry facilities, and a tennis court. Apartments have washer and dryer connections, hardwood floors, and walk-in closets.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
