Northmarq brokers $16.3 million sale of 52-unit multifamily property in Reseda, CA

LOS ANGELES (June 19, 2024) — Steven Goldstein, vice president of Multifamily Investment Sales in Northmarq’s Los Angeles office, brokered the $16.3 million sale of a 52-unit apartment community. The low-rise multifamily property was built in 1989 and features a mix of two- and three-bedroom apartment homes in the San Fernando Valley.

Northmarq represented the buyer, a Los Angeles-based investor.

“The San Fernando Valley has remained a resilient submarket of Greater Los Angeles. Tenants’ desirability to live here has increased due to the affordability in relation to homeownership, continued job growth and overall accessibility,” Goldstein said. “18325 Saticoy benefits from its large physical plant, oversized units and desirable in-unit and common area amenities.”

Located at 18325 Saticoy St. in Reseda, Calif., the multifamily property boasts an ideal location near renowned dining, shopping, and recreation. Residents enjoy convenient access to transportation, such as Reseda Station, and major freeways like the 405 and 101. The apartment community offers an array of on-site amenities, including a swimming pool, jacuzzi, basketball court, community BBQ and laundry facility.