crefeed.com | Sherman Oaks apartment community listed for $14 million

11/6/2008

Sherman Oaks apartment community listed for $14 million

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Terraces at Toscana, an 86-unit apartment community in Sherman Oaks, Calif., has been listed for sale at $14.05 million by Marcus & Millichap.

The seller, who has not been identified, is being represented by two Marcus and Millichap executives: Jeffrey Louks, a senior vice president investments and senior director of the firm's National Multi Housing Group in Encino; and Ronald Harris, a senior vice president investments and senior director of the firm's National Multi Housing Group in Los Angeles.

The listing price for the Terraces at Toscana property represents a price of $163,372 per unit.

The community, located at 5412-5424 Sepulveda Blvd., includes 77,399 square feet of living space in two, two-story courtyard-style buildings with apartments ranging from studio units to three-bedroom floor plans. The 1.4-acre site includes two separate lots, underground parking, a community swimming pool and fitness center.

Address: 5412-5424 Sepulveda Blvd., Sherman Oaks, Calif.

Size: 86 unit

Filed Under: Multi-Family

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