A 52-unit multifamily property at 6251-6267 Reseda Blvd. in Tarzana has sold for $11.7 million.
Executive Director of the National Multi Housing Group at Marcus & Millichap Los Angeles Rick Raymundo represented both the buyer and seller, both private LLCs.
Built in 1960, Reseda Garden Apartments stands two stories and spans 41,944 square feet.
“According to CoStar, this is among the largest Los Angeles County transactions to both originate and close during the pandemic,” Raymundo said in a statement. “The buyer had opened and cancelled escrows on a few potential 1031 exchange up-legs throughout the pandemic before we sourced this property for her. Despite tight exchange timeframes, we successfully closed escrow a few days before her exchange period expired.”
Comparable recent sales include the August sale of 57 units at 5480 Quakertown Ave. in Woodland Hills for $13.9 million, and the February sale of 48 units at 5911 Reseda Ave. in Tarzana for $15.1 million.