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Wednesday, Jun 7, 2023

Canoga Park Apartment Complex Sells for $17.6 Million

The Park Place apartment complex at 8700 De Soto Ave. in Canoga Park has sold for nearly $17.6 million, according to the Encino office of brokerage Marcus & Millichap Inc. The complex contains 61 units in both one- and two-bedroom configurations. The sale price represents $287,705 per unit. Matt Ziegler, senior vice president at Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a personal trust. The buyer was Gresham Villa Toscano LLC, which owns other apartment buildings in Canoga Park.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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