A 67-unit townhome building in Canyon Country has sold for nearly $10 million. The Hidaway Apartments at 27077 Hidaway Ave. was purchased by Paul Ling, an L.A. private investor, from Dangler Inc. of Studio City. The off-market sale closed last week at $9.8 million. The complex is comprised of two- and three-bedroom townhomes with attached garages and is 98 percent leased. Of the 67-units, 14 are affordable housing. Jesus Henao, vice president at the Encino office of NAI Capital Inc., represented both the buyer and the seller. He said the building had been on the market since 2005. “I only marketed this thing on an off-market basis,” he said. “We had an affordable housing buyer in place in 2005, but the market starting tanking and the deal fizzled out.” Henao said the building offers the owner significant upside as rents are well-below market value. They start at $1,150 a month for a two-bedroom townhome, according to real estate data firm CoStar Group Inc. The new owner plans some minor renovations. The two-story, 58,000 square-foot complex was built in 1986 on 3.2 acres.
