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Thursday, Nov 21, 2024

Studio City Apartment Building Fetches $6.3 Million

Via Studio City, a 15-unit apartment building located in Studio City, has changed hands for $6.3 million, or $420,000 per unit.The 15-unit structure at 4100 Whitsett Ave. was sold in an all-cash deal, which closed escrow in a fortnight.Rick Raymundo, a broker with Calabasas-based Marcus & Millichap Inc., represented the buyer as well as the seller. Both parties were private LLCs.Comparable transactions in the same general submarket include the 17-unit 10814-10818 Blix St. in North Hollywood, which sold in December for $4.5 million, or $264,705 per unit; and 6015 Woodman Ave., a 14-unit complex in Valley Glen, which sold in November for $5.45 million, or $391,285 per unit.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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