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Tuesday, May 6, 2025

North Hills Apartment Building Sells for $5.5 Million

A 30-unit multifamily sale in the North Hills submarket has sold for $5.48 million, according to Lee & Associates-LA North/Ventura. Warren Berzack, a Lee principal and president of Berzack Investment Property Advisors, represented the seller, Orion Gardens LLC. Both Orion Gardens and the buyer, Cadet J Holdings LLC, are private investors. Built in 1977, Orion Gardens, located at 8923 Orion Ave., is a low-rise apartment complex with a mix of one-bedroom, one-bath and two-bedroom, two-bath units. “Orion Gardens is very well located adjacent to the 405 Freeway and close to groceries and other retail and schools,” Berzack said in a statement. “The rents were significantly under-market making it an excellent value-add opportunity.”

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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