West Sacramento’s Savannah at Southport apartment complex just changed hands for $50.65 million, a price that puts it at the top of recent deals in the Southport submarket. The garden-style, mixed-income community counts about 228 units near Southport Parkway, making this one of the bigger multifamily sales in the area and a deal that tenants and housing advocates are likely to keep an eye on.
Sale details
Pacific Housing Inc., a Sacramento-based buyer, acquired Savannah at Southport for $50.65 million, according to the Sacramento Business Journal. The price represents a noticeable premium over recent trades for similar complexes in the wider region. Reporting on the sale did not include details on how the purchase was financed or whether any immediate management or operational changes are planned.
Property profile
Savannah at Southport is located at 3401 Savannah Lane and spans about 10.18 acres, with public records listing the parcel as APN 045-555-002-000. Market and housing listings describe it as a 228-unit, garden-style community that mixes market-rate and subsidized apartments. Both LoopNet and the HUD Housing Network show the address and unit count.
How this compares to past sales
The $50.65 million closing price lands well above the figure recorded in late 2023. Kidder Mathews’ Q4 2023 Sacramento multifamily report notes a prior Savannah at Southport transaction at about $20.3 million, which helps explain why recent coverage has framed the new price as more than double the last recorded deal. The Kidder Mathews report lists that earlier sale among the top multifamily transactions in the region for the fourth quarter of 2023.
Why buyers are paying up
With limited subsidized housing and a focus on preserving affordability, stabilized, mission-driven properties like Savannah at Southport have become more attractive to buyers, which can push bids higher on assets where affordability is expected to be maintained. Financing structures and partnerships that support long-term affordability, while still funding upgrades and operations, are part of that draw. Walker & Dunlop highlights preservation-oriented deals in Sacramento that use this kind of approach.
What tenants can expect
Local housing referral resources and the property’s own leasing information indicate that Savannah at Southport participates in low-income housing programs and accepts housing choice vouchers, so many residents have some level of subsidy protection. It is not yet clear whether the new owner will adjust management, rent policies, or resident services, and no such changes were detailed in available reports. Tenants are advised to watch for official notices from property management. The Yolo County Housing Authority referral list and the property’s official leasing site remain key contact points for current residents.
