Joint Venture Sells 88-Unit Cambridge Apartments in Los Angeles for $29.3M
LOS ANGELES — A joint venture between NNC Apartment Ventures and Bailard Inc. has completed the sale of Cambridge Apartments, a multifamily complex located in the Sherman Oaks neighborhood of Los Angeles. Interstate Equities Corp. acquired the property for $29.3 million, or $333,523 per unit.
Constructed in 1962, the asset consists of two contiguous 44-unit buildings on adjoining parcels near Van Nuys and Ventura boulevards.
Joe Grabiec, Kevin Green and Greg Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller in the transaction.