Elysian Housing And Capstone Equities Acquire Encino Office For $20.64M With Lee & Associates Brokers

An office building located at 5435-5445 Balboa Boulevard in Encino was sold for a total of $20,640,000. This asset spans 74,947 square feet and was purchased with the intention of conversion into 117 units of affordable housing, known as The Oaks on Balboa.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $20,640,000
• Address: 5435-5445 Balboa Boulevard
• Market: Encino
• Square Footage: 74,947
• Price Per Square Foot: $275
• Buyer: Elysian Housing & Capstone Equities
• Seller: 5435 Balboa LLC
• Brokers: Darren Casamassima & Scott Romick - Lee & Associates

Lee & Associates’ LA North/Ventura team acted as brokers for the transaction on behalf of both Elysian Housing & Capstone Equities and 5435 Balboa LLC, facilitating the sale of the property.