November 4, 2019 – Lee & Associates-LA North/Ventura transacted a 30-unit multifamily sale in the North Hills submarket of Los Angeles for $5,475,000, according to Warren Berzack, a Lee principal and president of Berzack Investment Property Advisors, who represented the seller in the transaction.
The property, Orion Gardens located at 8923 Orion Ave., is a low-rise apartment complex with a unit mix of single, one-bedroom, one-bath and two-bedroom, two-bath units. It was built in 1977.
“Orion Gardens is very well located adjacent to the 405 Freeway and close to groceries and other retail and schools,” said Berzack. “The rents were significantly under-market making it an excellent value-add opportunity.”
Both the seller, Orion Gardens, LLC, and the buyer, Cadet J Holdings, LLC are private investors.