Northmarq’s Los Angeles Multifamily Investment Sales team completes $4.68M sale of 6451 Kester Ave apartments

VAN NUYS, Calif. — Northmarq’s Los Angeles Multifamily Investment Sales team, led by Mike Hanassab and Elliot Hassan, successfully completed the $4.68 million sale of a 14-unit multifamily housing community located at 6451 Kester Avenue in Van Nuys, California.

Northmarq represented the seller, Plutsky LP and the buyer, Mina Fanar, Inc.

“This property was an ideal 1031 exchange property for the buyer, especially with the limited amount of time they had to meet their deadline,” Hanassab said. “The combination of the vintage and unit mix made it especially attractive for this investor given its location in the heart of Van Nuys.”

Built in 1988, 6451 Kester Avenue is a two-story garden apartment community, consisting of all townhouse-style units, located in close proximity to the 405 and 101 freeways, approximately four miles from North Hollywood and roughly 17 miles from downtown Los Angeles. The property was co-listed with Jeff Louks and Matthew Ziegler from Marcus & Millichap. It was a well-executed collaboration between the two firms.