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Two Reseda Apartment Buildings Sell for $9.3 Million

Hannah Madans Welk
By Hannah Madans Welk
42
7249 Baird Ave. in Reseda.

Marcus & Millichap has announced the sale of a 39-unit apartment portfolio featuring a pair of Reseda buildings that sold for a combined $9.3 million, or $313 per square foot, according to James Brian Markel, regional manager of the firm’s Encino office. Vice President Investments Filip Niculete and Senior Associate Jonathan Erster, in Marcus & Millichap’s Encino office, held the exclusive listing to market the property on behalf of the seller, a limited liability company. The duo also secured and represented buyer Wyanbaird LLC. According to CoStar Group, each floor at the two-story building at 7249 Baird Ave. totals 11,997 square feet. The price on the Baird property reached nearly $6.4 million. Wyandotte Apartments, at 18540 Wyandotte St., has 12 units. Each of its two floors amounts to 4,799 square feet. It sold for $2.9 million. Both buildings were built in 1989.

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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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