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August 26, 2019
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SOUTHERN CALIFORNIA NEWS
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Sun Valley Apartment Property Goes for $192k/Unit

2/12/19

A 26-unit apartment complex in Sun Valley exchanged in a $5 mil ($192.3k/unit) transaction. At the time of the sale there was a federal tax lien along with a deed of trust which hadnít been reconveyed.

The property is located at 10865 White St, in a quiet residential area of Sun Valley minutes from Burbank, North Hollywood, and Glendale. Built in 1983, two-story property was comprised of a mix of one-, two- and three-bedroom units not subject to rent control and the rents were significantly under market.

Kevin Kawaoka, CCIM, with NAI Capitalís Multifamily Services Group represented the buyer, Syre LLC, and the seller, a private investor, in the transaction. According to Kawaoka, there is significant opportunity for the buyer to add value to the asset.





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