A combination office building and rental housing complex in Valley Village has sold for $2 million, according to commercial brokerage Marcus & Millichap.
The property at 12143 Magnolia Blvd. consists of two offices with 890 and 1,300 square feet, plus a duplex. One housing unit has three bedrooms and two bathrooms, while the other has two bedrooms and 1.5 baths.
In total, the property has 4,674 square feet. The new undisclosed buyer plans to redevelop it, Marcus & Millichap said in a statement.
Sevak Keshishian, first vice president of investments in Marcus & Millichap’s Encino office, marketed the property on behalf of the seller, a limited liability company.