Market Overview

Matthews™ Brokers the Sale of a 38-Unit Apartment Building for a Record-Breaking $9.15 Million


The all-time highest sale price for a multifamily property in the
city of Sunland

Real Estate Investment Services™
is pleased to announce that Daniel
, Senior Vice President of Multifamily, has arranged the
record sale of a multifamily property located in the Sunland-Tujunga
neighborhood of Los Angeles, CA.

Producing over 45 interested buyers and generating multiple offers, the
asset, Parkview East Apartments sold for $9,150,000. According to
CoStar, this is the highest sale price for a multifamily property in the
city of Sunland.

Located at 8608 Foothill Boulevard, this non-rent controlled asset is
positioned in the very desirable community of San Fernando Valley.
Specifically, the Sunland-Tujunga submarket, which historically has had
some of the lowest vacancy factors of all of the San Fernando Valley. By
utilizing the Matthews™ platform, Withers created substantial
competition resulting in a winning buyer and a non-contingency escrow.

The seller and long-term client achieved this record-breaking price on
the property before exchanging proceeds to a better location. The buyer,
an undisclosed private investor, separated themselves from the
competition by providing the seller with, not only an acceptable price
but also great terms. The buyer provided the seller with the time needed
to help in seller's 1031 Exchange.

For more information regarding the sale of 8608 Foothill Boulevard or if
you have any questions relating to your multifamily investment(s),
please do not hesitate to reach out to Daniel
. Currently, Withers is bringing to market two 18-unit
buildings in Sherman Oaks for $5.5 million and $6.5 million.

About Matthews Real Estate Investment Services™:

leader in multifamily, shopping center, net lease, management, leasing,
portfolio disposition and 1031 exchange programs. The firm is
headquartered in El Segundo, CA and serves clients throughout the United
States and Canada. For more information, please visit WWW.MATTHEWS.COM.

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