SHERMAN OAKS, CA-Philadelphia’s Resource Capital Partners Inc. acquired the 170-unit Summer View Apartments for nearly $20.3 million in one of a flurry of multifamily deals totaling more than $36 million that closed recently here and in Glendale, West Hollywood and Los Angeles. The Summer View transaction was brokered by John Walsh of Marcus & Millichap’s Encino office on behalf of the seller, a partnership between private investors from New York and Southern California. Walsh also represented Resource Capital Partners. The Summer View complex is located at 15353 Weddington St. Originally constructed in 1964, its was recently extensively refurbished with new interiors in the majority of the units. The property’s unit mix consists of two studio apartments, 167 one-bedroom, one-bathroom apartments, and one two-bedroom, one-bath apartment. The units range in size from 500 sf to 682 sf, and the complex was 98% occupied at the time of the sale.In the Glendale transaction, a Los Angeles-based investment group acquired the 78-unit Sonora Apartments at 1151 Sonora Ave. from Five M. Development of Sun Valley for $13.8 million, according to Kevin Hurley of the L.A. office of Marcus & Millichap, the listing agent on the property. Hurley says the new owner can look forward to substantial upside in rents because the property is not subject to rent control. The Sonora was built in 1985 on two parcels totaling 57,399 sf. Its 78 units include 68 two-bedrooms, eight three-bedrooms, one one-bedroom and one luxury penthouse apartment, ranging in size from 500 sf to 2,200 square feet. Rents range from $850 to $2,200.The West Hollywood and Los Angeles properties sold for more than $1.2 million each in separate deals. In both cases the buyers and sellers were private investors. The West Hollywood complex consisted of 10 units at 7631 S. Norton Ave., report Brent Sprenkle and Gavin Greer of Sperry Van Ness, who represented the seller. Dan Corcoran of ReMax represented the buyer. The complex was built in 1961 and consists of six one-bedrooms and four two-bedrooms renting for $850 to $1,133.The Los Angeles property is a 24-unit complex at 1119 N. Edgemont Blvd. that was built in 1926 and consists of singles and bachelor units that rent for $376 to $442, according to Sprenkle, who represented the seller, Gramercy Capital, of Los Angeles. The buyer was represented by Dean Zander of Hendricks & Partners.

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