SHERMAN OAKS, CA – Villa Vittorio, a 12-unit apartment property in Sherman Oaks, CA, sold in a few weeks’ time at full listing price reflecting the demand for well-located, quality multi-family investments, said Warren Berzack, president of Berzack Investment Property Advisors, a multi-family specialty group of Lee & Associates-LA North/Ventura.
The property, at 15332 Weddington St. in the Sherman Oaks community of Los Angeles, attracted about six offers in a matter of weeks and sold for $3,195,000 or $276.36 per square foot, nearly 17 percent above the sale price of comparable properties recently sold in the area on a per-square-foot basis.
“The property was constructed in 2003 and consists of 12, 2-bedroom townhouses,” said Berzack. “The combination of new construction, a hard-to-find rental townhome units and the location made it extremely desirable.”
Berzack, along with Stephen Geiger, represented the seller, Trans Management LLC, in the transaction.
The controlled access building features 2-bedroom units with 1.5 baths or 2.5 baths, underground gated parking and a laundry facility. It is located a short distance from the San Diego (405) Freeway at Sepulveda Boulevard and the Sepulveda Dam Recreation Center.
The buyer, Nazaret Equities LLC, was represented by Elias Donay of Universal Capital Investments, LLC.
About Lee & Associates® - LA North/Ventura, Inc.:Celebrating more than 30 years of leadership in the commercial real estate industry, Lee & Associates®, is the largest broker-owned commercial real estate provider in the nation with 48 offices in California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. Lee & Associates-LA North/Ventura, Inc., a member of the Lee & Associates group of companies, provides industrial, office, retail and multifamily/investment brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. Founded in Sherman Oaks in 1994, Lee & Associates-LA North/Ventura now operates four California offices including Calabasas, Ventura County and Antelope Valley. For more information, contact us in the San Fernando Valley at 818.986.9800; in Ventura County at 805.626.1200; or in Antelope Valley at 661.341.3300. Or visit us online at www.lee-associates.com.