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Sunday, May 28, 2023

Studio City Apartment Complex Sells for Top Dollar

A 17-unit Studio City apartment complex has sold for nearly $5.9 million, the highest price per unit in the San Fernando Valley this year. Moorpark Manor was acquired April 10 by an undisclosed private investor for $344,118 a unit. The 27,534-square-foot building at 12916 Moorpark St. was built in 2006. The apartments are a mix of two- and three-bedroom apartments, some with more than one bathroom and loft space. Each has a luxury kitchen and built-in washers and dryers. The building also has covered and secured parking and entry. The building, sold by an undisclosed private investment group, was 100 percent occupied at the time of the sale. Clark Everitt, senior vice president; William Everitt, vice president; Morgan McMullin, senior associate; and Joyce Goldstein, associate, of Encino real estate investment firm Investment Real Estate Associates represented the seller. Andrew Awaida of Re/MAX Optima in Glendale represented the buyer.

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