REBusinessOnline

34-UNIT VERDUGO GARDENS SELLS FOR $7.26 MILLION

BURBANK, CALIF. — Burbank-based Burbank Holdings Corp. has purchased Verdugo Gardens, a 34-unit multifamily property located at 275 W. Verdugo Ave. in Burbank. The property sold for $7.26 million or $213,603 per unit. Built in 1985, the complex features two- and three-bedroom units. The buyer plans to upgrade the property and provide affordable housing. Kevin Lutz and Kevin Hurley of Hendricks & Partners’ Pasadena, Calif., office represented the seller, Los Angeles-based Jamco Holdings Corp., in the transaction.

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