Walsh, who is based in the Encino office of M&M, represented the buyer, with the seller representing himself.
Northwood Hills Apartments is at 6535 DeSoto Ave. in a densely populated area of Canoga Park. The property was constructed in 1960 and underwent substantial renovation before the sale. The complex comprises 108,296 rentable sf in five wood frame and stucco buildings of two stories each, on two acres of land, and was 95% occupied at the time of the sale. The unit mix includes 77 one-bedroom units, 50 two-bedroom units, eight three-bedroom apartments and four studios in buildings that were developed between 1960 and 1964. Rents range from an average of $544 for the studios to $1,067 for the three-bedroom units. The apartments range in size from 450 sf for the studios to 1,000 sf for the three-bedroom units. Each building is a gated community and offers what Walsh describes as a great amenities package that includes controlled access, a swimming pool, an onsite laundry facility, a sparkling swimming pool, gated and carport parking.
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