IEC Acquires Multifamily Property On Reseda Blvd For $15.1M

Interstate Equities Corporation (IEC) has acquired a multifamily property in the San Fernando Valley market. Located at 5911-5917 Reseda Blvd, the property consists of 48 units and spans a total area of 46,548 square feet. The transaction took place on February 26, 2020, with a sale price of $15,100,000, resulting in a price per square foot of $324.40.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,100,000
• Address: 5911-5917 Reseda Blvd, San Fernando Valley
• Market: San Fernando Valley
• Units: 48
• Square Footage: 46,548
• Buyer: Interstate Equities Corporation (IEC)
• Seller: Lion REG
• Broker: Michael Koshet

Michael Koshet played a key role as the broker representing the parties in this transaction.