Three Sherman Oaks apartment buildings have changed hands for $2.75 million, according to the brokerage involved in the deal.
The buyer—a local construction company—plans to refurbish the three buildings, which combined are currently about 50 percent occupied, said Senior Vice President Jeff Louks of Marcus & Millichap Real Estate Investment Services.
Louks and Associate Janette Monfared of Marcus & Millichap represented the buyer and the seller, a private investor.
The three buildings—totaling 18 units—are located at 14616 Magnolia Blvd. and 14620-14626 Magnolia Blvd.