Golden Bee Properties Acquires Mountain View Manor Multifamily In Sylmar For $39.5M

The property asset involved in this transaction is located at 12960 Dronfield Avenue in Sylmar. It is a multifamily property with 200 units, spanning 176,704 square feet. The sale of this property was finalized for a total price of $39,500,000, resulting in a price per unit of $197,500. The price per square foot is calculated to be $224. The seller of this property was Positive Investments Inc.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $39,500,000
• Address: 12960 Dronfield Avenue
• Market: Sylmar
• Units: 200
• Price per Unit: $197,500
• Square Feet: 176,704
• Price per Square Foot: $224

The buyer of this property is Golden Bee Properties, represented by David Berneman, Martin (Marty) Berneman, Jonathan Zadok, and Craig Levine. The brokers involved in this transaction are Shaya Braverman and Dario Svidler from Keller Williams.

Note from the buyer: Mountain View Manor represents the seventh asset in Golden Bee’s latest affordable and workforce housing fund. The property is planned for a major rehab over the next five years, including the addition of 17 accessory dwelling units (ADUs).