Patio Del Cielo apartment complex in Sherman Oaks has traded hands for $18.5 million, according to Calabasas commercial real estate firm Marcus & Millichap Inc.
Taduesz Bugaj, an individual investor from Los Angeles, bought the four-story, 31-unit community at 4410 Sepulveda Blvd. for $596,774 a unit, according to CoStar Group Inc. Real estate company IMT Capital of Sherman Oaks sold the property, which is within walking distance to the Sherman Oaks Galleria and a Whole Foods Market, and close to the 405 and 101 freeways, according to Marcus & Millichap.
The complex was built in 2010 and IMT has been the only owner. The deal is IMT’s fourth apartment sale since August.
The complex is almost entirely two-bedroom, two-bath units between 1,048 square feet and 1,162 square feet with one three-bedroom, two-bath unit that is nearly 1,800 square feet. Luxury features include hardwood floors and granite countertops in the units, common areas with tiled walkways, a rooftop deck with gardens, lounge areas and underground parking.
Marcus & Millichap’s Jeff Louks, executive vice president of investments, Brett Sanson, senior associate, and Glen Scher, associate, arranged the deal on behalf of IMT and brought the buyer to the table.