When 17th Place Townhomes was built in 2017, it marked a major milestone for downtown Bakersfield. As the city’s largest private urban revitalization project since the iconic renovation of The Padre Hotel in 2010, this luxury apartment community brought modern, market-rate living to the heart of Bakersfield for the first time in decades.

Nestled in the Eastchester neighborhood on a 1.25-acre site between 17th, 18th, N, and O Streets, 17th Place Townhomes was developed and managed by Sage Equities, a local real estate firm committed to transforming downtown Bakersfield. From the beginning, this project wasn’t just about building apartments—it was about creating a vibrant, walkable, and connected community.

Now, after years of success, 17th Place Townhomes has officially been sold in a record-breaking deal, setting a new high for per-unit pricing in Bakersfield for a single-owner multifamily property. The new owner, Graceada Partners, is a highly respected real estate private equity firm that specializes in secondary and tertiary markets and is local to the Central Valley. With a strong track record, Graceada saw the immense value in 17th Place Townhomes and its role in the ongoing revitalization of downtown Bakersfield.

For Sage Equities, this sale is a testament to their vision and dedication to urban transformation. The firm’s syndication model allows private investors to participate in high-impact projects, and the success of 17th Place Townhomes is proof that investing in Bakersfield’s core can yield incredible results.

But this is just the beginning. Responding to strong community support, low vacancy rates, and high investor interest, Sage Equities has continued its mission with new developments like The Cue and 918 at Eastchester, which is already fully leased. And they’re not stopping there—plans are in motion for two more multifamily communities, Cleo and Eastbank, which will further elevate downtown living with high-quality, market-rate housing.

Austin and Anna Smith, the owners of Sage Equities, see this sale as more than just a transaction—it’s a validation of their work and the growing strength of Bakersfield’s real estate market. “We are thrilled with the community’s response to 17th Place Townhomes and proud that financial experts outside of this City are validating the project’s success. This property is more than a building to us, and this deal is much more than a transaction,” they shared.

Sage Equities remains committed to pushing the boundaries of urban development in Bakersfield, proving that the city is ready for dense, walkable, luxury multifamily housing. With each new project, they continue to shape a future where downtown Bakersfield is a thriving hub of modern living and investment opportunities.

To explore investment opportunities with Sage Equities, visit sagebakersfield.com.