Zander represented both D&D and the seller, the SilvestreFamily Trust of Calabasas, which had owned the property for about ayear. Zander tells GlobeSt.com that Palmcrest is on 1.93 acres at14751 Titus St. in a high-density area just south of RoscoeBoulevard and west of Van Nuys Boulevard.
Built in 1963, it consists of one two-story wood frame andstucco building with a pool, a gym, a recreation room and a sauna.The unit breakdown is 72 one-bedroom units and eight two-bedroomunits.
The one-bedroom units average 600 sf and rent for $529-$754 permonth, while the two-bedroom units range from 825 to 900 sf andrent for $682-$950. The property was 100% occupied at the time ofthe transaction, which completed a 10-31 exchange for thebuyer.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
