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Saturday, Nov 23, 2024

Mixed Use Valley Village Complex Sold for $2 Million

A combination office building and rental housing complex in Valley Village has sold for $2 million, according to commercial brokerage Marcus & Millichap. The property at 12143 Magnolia Blvd. consists of two offices with 890 and 1,300 square feet, plus a duplex. One housing unit has three bedrooms and two bathrooms, while the other has two bedrooms and 1.5 baths. In total, the property has 4,674 square feet. The new undisclosed buyer plans to redevelop it, Marcus & Millichap said in a statement. Sevak Keshishian, first vice president of investments in Marcus & Millichap’s Encino office, marketed the property on behalf of the seller, a limited liability company.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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