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Saturday, Mar 2, 2024

Sylmar Apartments Sold Under Court Order

An investor paid $17.4 million, or about $285,000 a unit, for a 61-unit apartment building in Sylmar put on the market by court order, according to CoStar. Eric Sackler and Susan Lau of Coldwell Banker Commercial NRT served as the listing agents. Grady Liu and Martin Ding with MacroReal Commercial transacted on behalf of the buyer. The apartment building, located at 12455 San Fernando Rd., was established in 2014. The 61,650-square-foot multifamily community includes five low-income units in its apartment mix. The complex also features a recreation room with billiards, fitness center, yoga space, communal kitchen and 105 subterranean parking spaces. According to the report, the property received multiple offers from regional and institutional buyers, with the property selling above its initial $15.5 million asking price.

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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