Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WINNETKA, CA-Two local family trusts traded a 53-unit apartment complex for $3.5 million, one of three recently closed multifamily transactions totaling $6 million, according to Marcus & Millichap and the Charles Dunn Co.

John Walsh of Marcus & Millichap, who brokered the Winnetka transaction, reports that the Belsby Family Trust bought the property at 20200-20202 Leadwell St. from the Veitch Trust at a cap rate of nearly 5.2%. The complex was built in 1976 and consists of a mix of single and junior units.

In the Los Angeles transaction, a nine-unit complex at 1820 S. Bundy Drive sold for $1.3 million, and another nine-unit building at 11235 Richland Ave. sold for approximately $1.3 million. Michel Hibbert of the West Los Angeles office of Charles Dunn represented the seller, an individual investor, in the 1820 Bundy transaction. The buyer was Ipowerweb Inc., which was represented by Serge Masche of Hollywood Land Realty. For the 11235 Richland Ave. building, Hibbert represented the sellers and the buyer, all individual investors.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.