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Tuesday, May 30, 2023

MWest Holdings Buys Canoga Park Townhouses for $12 Million

Los Angeles-based MWest Holdings has acquired Sunset Gardens, a 42-unit townhome community in Canoga Park, for $12 million, according to the company. According to CoStar Group, the national real estate and investment firm bought the three-story complex from Bender Family Properties LLC. The purchase price represents $285,714 per unit. Built in 1991 and located at 8761 De Soto Ave., the townhouses with one-, two- and three-bedroom floorplans, range from 750 to 1,300 square feet and come with high ceilings, laminated flooring and fireplaces. Select units include walk-in closets and renovated kitchens while community amenities include on-site parking, pool and jacuzzi and a laundry facility. Polaris Property Management will handle onsite facility management. In addition to planned innovations to both the inside and exteriors of the townhouses, MWest Holdings will change the name of the townhome community from Sunset Gardens to NoVa Townhomes, a reference to its North Valley location. “NoVa townhomes is an example of an excellent value-add purchase where we can add meaningful value,” said MWest Holdings President Karl Slovin in a statement. “We look forward to providing the upgraded interior amenities and welcoming feel that renters value.”

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.

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