1/31/2008

Simi Valley apartments bring $10.5M

by

Garden Apartments

Redfern Family Trust has sold the Garden Apartments in Simi Valley, Calif., for $10.52 million, or $125,298 per unit, to a private family partnership.

Marcus & Millichap's Greg Harris represented Redfern in the deal.

The 84-unit apartment complex is located at 1851 Buyers St. and is comprised of a two-story building on 3.02 acres. Built in 1963, it contains 57,800 square feet and a mix of 68 one-bedroom and 16 two-bedroom units.

Harris recently represented a Hollywood-based real estate company in the sale of the Royale Sherman Apartments in North Hollywood and Prometheus Real Estate Group in the $24 million sale of the Franklin Plaza Apartments in Los Angeles.

Simi Valley is located in the San Fernando Valley in Los Angeles and has a population of 118,687.

Address: 1851 Buyers St., Simi Valley, Calif.

Size: 84 units/57,800 square feet

Built: 1963

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Filed Under: Multi-Family

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