Real estate brokerage Marcus & Millichap has announced the sale of 17326 Cantlay St., a three-unit apartment property located in Van Nuys. According to James Brian Markel, regional manager of the firm’s Encino office, the asset sold for $1.1 million. Senior Vice President Investments Janette Monfared in Marcus & Millichap’s Encino office held the exclusive listing to the property on behalf of the seller, a private investor, and she also secured and represented the buyer, a private investor. Built in 1949, the three bungalows, at 2,823 square feet a piece, stand in the Lake Balboa submarket. Marcus & Millichap’s Encino office has been on a steady roll of late. On July 2, the brokerage announced the $1.2 million sale of 5236 Bellingham Ave., another three-unit complex in Valley Village. Monfared held the exclusive listing on the property on behalf of the seller, a limited liability company. She also secured and represented the buyer, whom CoStar Group identifies as Yekutiel Mordechay. Late last month, the branch also announced the $5.2 million sale of 18600 Burbank Blvd., a 19-unit Tarzana multifamily investment, with 18,958 square feet on each of its two floors and unit sizes averaging 755 square feet. Monfared represented the buyer, identified by CoStar as Eli Tene, leader of Peak Corporate Network’s offices in Woodland Hills while the Davidovich Trust, represented by Nicholas Davidovich, sold the 1964-completed building.
Three-Unit Multifamily in Van Nuys Sells for $1.1 Million
