Glendale Apartments Sell for $1 Million

A four-unit apartment complex in Glendale has changed owners for more than $1 million after a flurry of interest from potential buyers, according to commercial real estate brokerage Stevenson Real Estate Services in Glendale. The units at 1819 N. Verdugo Road in the Verdugo Woodlands area sold for $1.12 million to Scott Akerley, a private investor in Glendale. The seller was Sweetnam Family Trust. The one-bedroom, one-bathroom units averaged 690 square feet and were built in 1941, according to CoStar Group Inc. Stevenson Vice President Ted Tompkins, who arranged the sale on behalf of the family trust, said the deal attracted 10 offers in the first 10 days it was on the market. It sold for more than its original asking price of $1.05 million. “I think (it was) the lack of inventory, the location of the units and the look of the units,” Tompkins said, adding that each unit has a detached garage and some units have fireplaces. Randy Stevenson, president of Stevenson, and brokers Stephen Baker and Kris Hons also represented the seller in the deal. Pakrad Markarian with Re/Max Optima in Glendale negotiated on behalf of the buyer.