11/9/2007

H&P sells two California multi-family properties

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Tarzana Terrace

Tarzana Courtyards

Hendricks & Partners have negotiated the sale of two multi-family properties in Tarzana, Calif., for a combined price of $10.4 million.

Dr. Arkady Tsibel, a dentist in South Pasadena, purchased Tarzana Terrace Apartments for $4.3 million while Java Equities acquired the Tarzana Courtyards for $6.1 million.

Los Angeles-based Tarzana Terrace Land Partners was the seller in both transactions.

Melinda Russell of Hendricks & Partners' Los Angeles office negotiated both sales and represented both buyers and the seller.

The Tarzana Terrace apartments is a 31-unit complex located at 18634 Clark St., while the Tarzana Courtyards contain 52 units and is located at 18400 Collins St.

Taraza is located approximately 20 miles north of Los Angeles.

Address: 18634 Clark St. and 18400 Collins St., Tarzana, Calif.

Size: 83 units

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Filed Under: Multi-Family

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