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Matthews Arranges $26M Sale of Chatsworth Apartment Complex
Mountain View Manor Apartments in Chatsworth traded hands for $26.4 million. The 97-unit community is located at 21700-34 Septo St. The property sold at a low 12 gross rent multiplier (GRM) with a 5.25% cap rate.
The multifamily asset was built in 1977 and received its Certificate of Occupancy post 1978 and therefore is not subject to Los Angeles City rent control. The property is situated on an 83,124-square-foot lot. The gated apartment complex has four swimming pools, a jacuzzi, a BBQ area, laundry facilities, and assigned parking.
Matthews Real Estate Investment Services’ John Boyett and Daniel Withers represented the buyer, Woodland Hills-based Sussex Capital Group. The seller was an unnamed private family that was represented by Keller Williams.
The seller plans to exit California and focus its investment strategy on properties in the Northwest.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




