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December 12, 2018
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Investors Trade 60-Unit San Fernando Valley Multifamily Property in $10.75 Mil Deal


Loma Vista Apartments, a 60-unit community located in the northeastern San Fernando Valley community of Pacoma, sold for $10.75 mil, or $179k/unit. Built in 1957 on 2.43 acre, the property is located at 12544 Van Nuys Blvd, between Glenoaks and Foothill Blvds.

The community is near the Sub Valley Metrolink Station and the 210, 118 & 5 freeways. It is a short drive to several significant employers including: The Walt Disney Company, Warner Bros Entertainment, Providence St. Joseph’s Hospital and Bob Hope Airport.

Loma Vista Apartments features community amenities including two laundry centers, garden / courtyard with walkways, and controlled access. The apartment homes feature spacious one-, two- and three-bedroom floor plans with an average size of 781 sf. The units feature granite and granite inspired countertops, plush carpeting in the bedrooms and wood laminate in the living areas, and balconies in some units.

Alex Mogharebi and Otto Ozen of The Mogharebi Group represented the buyer, a private investment group based in West Los Angeles, and the seller, a San Gabriel Valley based private investor. According to Ozen, the listing generated multiple offers and closed at 95% of list price.

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