Marcus & Millichap Brokers $6.9M Sale Of Multifamily Complex In Valley Village

The $6.9 million sale of a 32-unit apartment complex at 5247 Corteen Place in Los Angeles' Valley Village neighborhood has been brokered by Marcus & Millichap. The property, representing both the seller, a family trust of over 44 years, and the undisclosed buyer, is a multifamily asset. Financing for the acquisition was provided by JP Morgan Chase.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,900,000
• Units: 32
• Price Per Unit: $215,625
• Address: 5247 Corteen Place
• Market: Valley Village

The deal was facilitated by Marcus & Millichap brokers Brett Sanson, Jeff Louks, and Rick Raymundo. They represented both the seller and the undisclosed buyer in the transaction. The lender involved in the sale was JP Morgan Chase.