|
7/10/15
|
IMT Glendale Apartments, a 67-unit multifamily property in Glendale, was purchased by a private investor for $20.4 mil ($305k/unit). Located at at 1630 Calle Vaquero, north of the 134 Fwy and just west of the 2 Fwy.
The property is well located close to many major freeways and features a mix of spacious studios, one- and two-bedroom units with a resort-style pool and sun deck, a fire pit, fitness center and clubhouse.
Jim Fisher and Mike Smith of Lee & Associates represented the buyer and the seller, IMT Capital LLC, in the deal. According to Fisher, the Glendale market has historically been predominantly made up of apartment properties of 50 units or less, but the recent focus on multifamily development is changing that profile, and this private buyer saw an opportunity to compete favorably in that emerging arena with this purchase.
|
|
Return to the Archive page
|
|
|
|
|