LA Apartments Acquires Residential Portfolio In Van Nuys & Sylmar For $162M

The recent sale of four residential properties in Los Angeles has generated a significant amount of buzz in the real estate market. The properties, located at 7400 N Sepulveda Blvd, 13727 Sylvan Street, 7121 Woodley Ave, and 14165 Foothill Blvd, were collectively sold for a total of $162,000,000. With a total of 644 units, the average price per unit comes out to be $251,000. The properties offer a range of amenities and are situated in the desirable neighborhoods of Van Nuys and Sylmar.

Summary of transaction details

• Property Type: Residential
• Transaction Amount: $162,000,000
• Number of Units: 644
• Price Per Unit: $251,000
• Capitalization Rate: 3.5-4.5%
• Market: Van Nuys & Sylmar, Los Angeles

The sale was facilitated by the renowned real estate agency, Institutional Property Advisors, along with Marcus & Milichap. The seller, Silkand Properties, was represented by Ronald Harris, Greg Harris, Kevin Green, Joe Grabiec from Institutional Property Advisors, and Bryan Schellinger from Marcus & Milichap. On the other side, LA Apartments emerged as the buyer in this lucrative transaction.