September 27, 2016
Calabasas, CA-based Marcus & Millichap’s Institutional Property Advisors (IPA) division closed the sale of Waterstone Apartment Homes, a 348-unit multifamily community in Chatsworth, CA. The $72.5 million sales price equates to more than $208,000 per unit.
The property was built in 1971 at 9901 Lurline Ave. near the Westfield Topanga shopping mall and the Chatsworth Metrolink station. The 250,428-square-foot property features a clubhouse with billiard tables, a large swimming pool and a spa, a lighted tennis court, a barbecue/picnic area, and a fitness center.
IPA’s Greg Harris, along with Ron Harris, Kevin Green, Joseph Grabiec and Paul Darrow, represented the unnamed seller, and procured the undisclosed buyer.
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