CANOGA PARK, CA – A private investor has acquired Casa Bryant, a 20-unit, mid-century apartment building in the Canoga Park submarket of Los Angeles for $5,000,000, according to Warren Berzack, Principal of Lee & Associates-LA North/Ventura and National Director of Lee & Associates Multifamily Advisory Group, who represented the buyer and seller in the transaction.
“This property’s vintage design along with excellent amenities, a strong rental location and very convenient freeway access, made it a very attractive offering” said Berzack, “and with nearly all the units renovated and some additional room for rental growth it was a well-positioned acquisition opportunity.”
All but three of the units at Casa Bryant, located at 21024 Bryant St. just west of De Soto Avenue between Roscoe Boulevard and Parthenia Avenue, have been renovated with stainless steel appliances and vinyl plank flooring. The soft-story retrofit required by the city of Los Angeles, was completed last year.
The buyer, a local investor, owns dozens of properties in the Los Angeles area. The seller is also a private investor.
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