Apartments in Sherman Oaks Sell for $1.3 million

A five-unit apartment building in Sherman Oaks has sold for $1.3 million, or $260,000 a unit, according to Calabasas real estate brokerage Marcus & Millichap Inc. The two-story structure at 4545 Hazeltine Ave. was bought by Northridge-based Age Investment Group. Built in 1954, the property includes a mix of studio, one- and two-bedroom units and was sold by Chuck and Charlotte Waters, according to CoStar Group Inc. Marcus & Millichap’s Associate Vice President of Investments Janette Monfared brokered the deal on behalf of both parties.