5435-5445-Balboa-Blvd-Encino-CA

Elysian Housing, Capstone Equities Buy California Office Building for $20.6M, Plan Affordable Housing Conversion

by Amy Works

ENCINO, CALIF. — Elysian Housing and Capstone Equities have acquired an office building located at 5435-5445 Balboa Blvd. in Encino from 5435 Balboa LLC for $20.6 million. The buyers will convert the 74,947-square-foot office building into The Oaks on Balboa, an affordable housing community offering 117 studio and one-bedroom apartments. Darren Casamassima and Scott Romick of Lee & Associates LA North/Ventura represented the seller and buyer in the deal.

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