Sherman Oaks Apartment Complex Sells for $6.3 Million

A 38-year-old apartment complex in Sherman Oaks has sold for more than $6 million, according to Calabasas commercial real estate brokerage Marcus & Millichap Inc. Select Produce Properties bought the Las Casitas complex at 13830 Moorpark St. for $6.3 million, or $315,00 a unit. The price represented a 40 percent jump over what the complex last sold for in 2013, according to CoStar Group Inc. The complex consists of two, two-story buildings of one- and two-bedroom units with fireplaces, hardwood and tile floors and balconies. The complex features a pool and laundry facilities. Jeff Louks, Marcus & Millichap’s executive vice president, brokered the deal on behalf of the buyer, in addition to Brett Sanson, senior associate, and First Vice President Brandon Michaels.