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LOS ANGELES — Northmarq has negotiated the sale of a three-community multifamily portfolio in the Los Angeles neighborhoods of Granada Hills and Northridge. Upside Investments sold the portfolio to LAApartment.biz, a private investor, for $55.5 million.
The portfolio includes:
- Villa Verde Apartments, a 90-unit asset located at 10339 Zelzah Ave. in Northridge. The community features laundry facilities, a fitness center and pool.
- Zelzah Avenue Apartments, an 88-unit property at 10331 Zelzah Ave. in Northridge. Onsite amenities include laundry facilities, a fitness center, pool and grill.
- Northridge Pointe, a three-story, 68-unit community located at 8511 Balboa Blvd. in the Northridge/Granada Hills submarket. Community amenities include laundry facilities, an elevator, a fitness center and picnic areas.
Vince Norris, Jim Fisher, Mike Smith, Mike Hanassab, Elliot Hassan and Steven Goldstein of Northmarq’s Los Angeles investment sales team represented the seller and buyer in the transaction.