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Northmarq Brokers Sale of Reseda Low-Rise
Steven Goldstein, VP of multifamily investment sales in Northmarq’s Los Angeles office, brokered the $16.3-million sale of a 52-unit apartment community located at 18325 Saticoy St. in Reseda. The low-rise multifamily property in the San Fernando Valley was built in 1989 and features a mix of two- and three-bedroom apartment homes.
Northmarq represented the buyer, a Los Angeles-based investor. The seller was not identified.
“The San Fernando Valley has remained a resilient submarket of Greater Los Angeles,” Goldstein said. “Tenants’ desirability to live here has increased due to the affordability in relation to homeownership, continued job growth and overall accessibility. 18325 Saticoy benefits from its large physical plant, oversized units and desirable in-unit and common area amenities.”
The property is located near dining, shopping and recreation options Residents have access to mass transportation, such as Reseda Station, and major freeways like the 405 and 101.
- ◦Sale/Acquisition
