NORTHRIDGE, CA-A private investor has purchased Varsity Club Apartments, a 50-unit apartment property situated at 10020 Zelzah Avenue, for $11.2 million or $225,000 per apartment. A real estate developer based in Southern California was the seller of the building spanning 63,406 square feet. Marcus & Millichap Real Estate Investment Services negotiated the deal on behalf of both the buyer and the seller.
Varsity Club Apartments, constructed in 1990, consists of 6 one bedroom apartments and 44 two bedroom apartments. For the full story, go to San Fernando Valley Business Journal .
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