The 27-year-old apartment complex occupies 3.5 acres of land at 15425 Sherman Way, according to Ronald Z. Harris and Gregory Harris of Marcus & Millichap, who represented the buyer and the seller. Although the seller had already completed extensive upgrades, they say, the buyer plans on improving the property further to raise rents to market levels.

The Sonterra complex consists of nine two-story, wood frame and stucco buildings and was 99% occupied at the time of the sale. The brokers describe the property as "highly amenitized," pointing out that it features a pool and a spa, a recreation and weight room, elevators, controlled access, covered parking, landscaped courtyards with fountains and a number of extras in the units. Among these are fireplaces in some units, built-in bookcases, ceiling fans, large closets and private patios and balconies.

The seller, who had owned the complex since August 2001, had completed upgrades including new carpeting and flooring, restyled kitchens and bathrooms, refinished cabinets and countertops, new lighting and other improvements.

Built in 1976, the complex includes 37 singles ranging in size from 430 to 442 sf and renting for an average of $610; 79 one-bedroom, one-bath units of 630 sf renting for an average of $799; 42 two-bedroom units ranging from 762 to 970 sf and renting for an average of $985 to $1,157; and three units of three bedrooms each that measure 1,175 sf and rent for $1,287.