Canoga Park Apartment Complex Sells for $17.6 Million

The Park Place apartment complex at 8700 De Soto Ave. in Canoga Park has sold for nearly $17.6 million, according to the Encino office of brokerage Marcus & Millichap Inc. The complex contains 61 units in both one- and two-bedroom configurations. The sale price represents $287,705 per unit. Matt Ziegler, senior vice president at Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a personal trust. The buyer was Gresham Villa Toscano LLC, which owns other apartment buildings in Canoga Park.