Rosedown Apartments is a 108 unit two story garden style apartment complex located in the Florin sub-market of Sacramento. Rosedown was built in 1993. In 2007 Rosedown was purchased for $9,350,000. The deal was encumbered with a First Trust Deed for ($7,425,000) and a Second Trust Deed for ($1,751,950), totaling $9,176,950. As market fundamentals deteriorated nation wide, the owner lost the property by deed-in-lieu of foreclosure to the lender. Rosedown was purchased in August 2011 for $5.8M, It has 10 year debt at a fixed interest rate and is currently returning 10% cash on cash returns.
