Premier Business Centers

The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 18, 2018
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Value-Add Apartment Building in the San Fernando Valley Pulls in $223k/Unit


In a recent multifamily investment buy, Los Altos based Interstate Equities Corporation purchased a 45-unit, non-rent controlled, value-add apartment building in Van Nuys for $10.025 mil, or $223k/unit. The property is located at 15314 Gault St, south of Sherman Way and west of Sepulveda Blvd.

Built in 1979, the property features a unit mix with two studio, 33 one-bedroom and 10 two-bedroom floor plans. The property offers ample parking, a swimming pool and a community rec room for tenants. It was 98% occupied at the time of the sale.

Jim Fisher and Mike Smith of Berkadia represented the buyer and the seller, Gault LLC, in the transaction. The listing received multiple offers and sold at just over asking price.

“The pricing achieved is indicative of the market. IEC paid all cash for the property and closed on-time at the contracted price. Buyers are very willing to pay low cap rates when there is tangible upside,” said Fisher.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media