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Friday, Apr 19, 2024

NoHo Arts District Apartments Sell for $2.3 Million

An apartment complex with eight units in North Hollywood has sold for $2.3 million to an undisclosed buyer, according to Calabasas-headquartered brokerage Marcus & Millichap Inc. The apartments at 4904 Tujunga Ave. are in the NoHo Arts District, just outside of Toluca Lake. The property is divided between four 1-bed/1-bath units and four 2-bed/1-bath units. The building totals 5,831 square feet and sits on a 6,972 square-foot lot. Marcus & Millichap Investment Services Senior Vice President Investments Filip Niculete and First Vice President Investments Glen Scher served as listing agents on the deal. “We were able to generate multiple offers, facilitate a smooth escrow process and close at a very high price per square feet ($394 per square foot),” Niculete said in a statement.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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