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10/20/23
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A private investor paid $6.75 mil for a 20-unit ($337.5k/unit) apartment property in the San Fernando Valley community of Valley Glen.
The property is located at 13426 Vanowen St, between Woodman and Fulton Aves. Constructed in 2005 and originally designed as condominiums, the apartment complex boasts an array of outstanding features, including expansive floor plans and high-end finishes. The well-appointed building comprises a blend of mostly two and three-bedroom units, substructure street level parking, and an array of units featuring private balconies.
Kevin Kawaoka and Michael Vara with NAI Capital Commercial represented the buyer and the seller, Greenbush Villa, LLC, in the transaction. According to Kawaoka, the buyer was extremely satisfied with the acquisition, anticipating an approximate 24% rental upside on this investment. Plans are already underway to enhance operational efficiencies within the asset, ensuring a prosperous and promising future for the new owner.
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