Calabasas-based brokerage Marcus & Millichap Inc.
brokered a pair of high-profile multifamily sales last month.
A private investor has acquired a 42-unit apartment building in North Hollywood for $21.3 million, or $506,000 per unit.The Park Village Apartment Homes, built in 1964 and located at 5327 N. Hermitage Ave., was fully leased at sale time. The site, with 57,198 square feet, features bicycle storage, a tenant fitness center and a parking garage.Janette Monfared and Jeff Louks of Marcus & Millichap represented the seller, DNN Capital. Hovik Avanessian of Re/Max Optima represented the undisclosed buyer.Also, Paladin Realty Partners has purchased an 85-unit complex in Pacoima for $16.3 million, or about $192,000 per unit.The Haddon Hacienda, located at 10560 Haddon Ave., has 35 one-bedroom, 30 two-bedroom and 20 three-bedroom units. They range from 750 to 1,150 square feet in seven garden-style buildings.
The complex has 74,896 square feet and was 95 percent leased at the time of sale.Jeff Louks and Catherine O’Brien of Marcus & Millichap represented the sellers, a family group. Matt Ziegler, also with Marcus & Millichap, represented the buyer, a private investor.The sellers, who inherited the property, included three siblings who wanted to exit. The buyer is planning property upgrades and renovations, according to Marcus & Millichap.