A 20-unit multifamily property at 15323 Weddington St. in Sherman Oaks has sold for $9.1 million, or $455,000 per unit. The two-story building, which sits on a half-acre of land, has a total of 27,027 square feet. Rick Raymundo, executive director of the National Multi Housing Group at Calabasas-based brokerage Marcus & Millichap Inc. represented buyer H & R Investments. Greg Marderian of AOA Commercial Brokerage represented seller The Rubino Trust. The family behind the Rubino Trust originally developed the property in 1986 and had been the sole owner until the sale. “The property had been maintained well, and the new owner intends to update unit interiors in order to improve cash flow further,” Raymundo said in a statement.
20-Unit Apartment Building in Sherman Oaks Sells for $9.1 Million
