Tarzana Multifamily Sells for $8.3 Million

A 28-unit apartment property located in Tarzana has sold for $8.3 million, or $296,428 per unit. Babek Motamedi of Calabasas sold the property to the buyer, JLS Investments, a partnership represented by Jeff Louks, executive managing director of investments at Calabasas-based Marcus & Millichap’s Encino office. Named Villa Royale, the multifamily property at 18543-18545 Clark St., was built in 1962 and has two floors.