1/30/2008

Los Angeles apartments on the block for $13.67M

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Foothill Glen Apartments

Foothill Glen Apartments, LLC has placed the 81-unit Foothill Glen Apartments in the Los Angeles suburb of Sylmar, Calif., on the block with an asking price of $13.67 million or $168,827 per unit.

Rick E. Raymundo of Marcus & Millichap's Los Angeles office has been hired to market the property, which is being offered with a 6.22 percent capitalization rate.

The apartment community is comprised of four two-story buildings on three acres. It is located at 13490-13520 Foothill Blvd. and contains 68,380 square feet. The complex was built in 1987. The seller recently invested $400,000 in renovations to the property.

Sylmar is located 24 miles north of Los Angeles.

Address: 13490-13520 Foothill Blvd., Sylmar, Calif.

Size: 81 units/68,380 square feet

Built: 1987

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Filed Under: Multi-Family

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