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Thursday, Jun 20, 2024

Marcus & Millichap Announces Valley Sales Worth $6 Million

Calabasas commercial real estate brokerage Marcus & Millichap Inc. said it has recently arranged several apartment and retail space deals in the Valley this month. In Reseda, the brokerage handled the $2.5 million sale of Potomac Plaza, an 8,304-square-foot retail center at 18601 Sherman Way. A limited liability corporation purchased the 30-year-old property on 0.4 acre from World Oil Corp. in South Gate, according to CoStar Group Inc. Brokers John Lally and Brandon Michaels represented both parties on the deal, according to Marcus & Millichap. In Van Nuys, two apartment complexes changed hands. A two-story, 7-unit complex at 14111 Calvert St. sold for $1.2 million. The building with one- and two-bedroom units was built in 1979 and bought by an entity known as 14111 Calvert from Joseph and Thresiamma Kallumkal of North Hills, according to CoStar. Also in Van Nuys, a 6-unit, 62-year-old apartment building with one-bedroom, one-bathroom, rent-controlled units at 14223 Sherman Way sold for $775,000. Broker Meir Mark Frydman arranged the deal on behalf of the buyer and seller, who were not disclosed. The property sold last month to a limited liability corporation, Sherman Way Nector, according to CoStar. In Studio City, brokers arranged the sale of a 6-unit apartment building at 4455 Bakman Ave. The two-building complex with one- and two-bedroom units sold for $1.4 million. A private investor, Naim Fakhiri of Burbank, bought the 58-year-old property from Del Sol Bakman, according to CoStar. Marcus & Millichap brokers Filip Niculete and Travis Jourdain negotiated the deal on behalf of both parties, according to the real estate firm.

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