87.3 F
San Fernando
Friday, Feb 23, 2024

Two Reseda Apartment Buildings Sell for $9.3 Million

Marcus & Millichap has announced the sale of a 39-unit apartment portfolio featuring a pair of Reseda buildings that sold for a combined $9.3 million, or $313 per square foot, according to James Brian Markel, regional manager of the firm’s Encino office. Vice President Investments Filip Niculete and Senior Associate Jonathan Erster, in Marcus & Millichap’s Encino office, held the exclusive listing to market the property on behalf of the seller, a limited liability company. The duo also secured and represented buyer Wyanbaird LLC. According to CoStar Group, each floor at the two-story building at 7249 Baird Ave. totals 11,997 square feet. The price on the Baird property reached nearly $6.4 million. Wyandotte Apartments, at 18540 Wyandotte St., has 12 units. Each of its two floors amounts to 4,799 square feet. It sold for $2.9 million. Both buildings were built in 1989.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

Featured Articles

Related Articles