LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Summerset Village, an apartment community in the Chatsworth neighborhood of Los Angeles. An institutional buyer acquired the property from an undisclosed seller for $106.6 million, or $380,893 per unit.
Completed in 1986, Summerset Village features 280 apartments spread across 39 two-story residential buildings. Apartments offer full-size washers/dryers and panoramic views. Select units feature fireplaces, wrap-around patios and direct access garages. Community amenities include two solar-heated swimming pools, two hot tubs, a beach volleyball court and direct access to hiking trails.
Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer in the transaction.