IPA Sells Summerset Village Multifamily In Chatsworth, CA For $106.65M

Summerset Village, a 280-unit multifamily property in Chatsworth, California, has been sold by Institutional Property Advisors (IPA), part of Marcus & Millichap, for $106.65 million. The property's prime location near retail centers and substantial job opportunities in the San Fernando Valley, along with a shortage of luxury housing, contributed to its high demand. Each unit was sold at an average price of $380,893.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $106,650,000
• Units: 280
• Price per Unit: $380,893
• Address: 11450 Poema Place, Chatsworth
• Market: Chatsworth, California
• Brokers: Gregory Harris, Joseph Grabiec & Kevin Green - Institutional Property Advisors - Marcus & Millichap

Institutional Property Advisors (IPA), a division of Marcus & Millichap, facilitated the sale of Summerset Village. The brokers involved in this transaction were Gregory Harris, Joseph Grabiec, and Kevin Green. Their expertise and representation contributed to the success of this multifamily property deal.