10150 Hillhaven Ave, Los Angeles

The LAAA Team of Marcus & Millichap, in partnership with The Liberow Group, is proud to announce this all-time record breaking sale of this 34 Unit, brand new construction apartment building in Tujunga, CA. This property was sold 100% vacant to an affordable/supportive housing provider.

All Time Record Sale in Tujunga, CA

According to CoStar's all-time sale records in the city of Tujunga, CA, this is truly a record smashing transaction by beating all other sales in three different categories:

#1 Highest Gross Sale Price Ever ($17,750,000)

#1 Highest Price/Unit Ever ($522,059 per Unit)

#1 Highest Price/SqFt Ever ($518.08 per SqFt)

Additionally, the #2 all time sale in Tujunga (10240 Commerce Ave) was another deal of ours that we closed a few months ago, meaning we are now responsible for the two highest sale prices ever achieved in the city of Tujunga, CA.

Property Overview

10150 Hillhaven Ave is a brand new construction apartment building in Tujunga, CA. The property just received final Certificate of Occupancy last week on November 22nd, and it is 100% vacant. The property has 34 apartment units and a common area recreation room. The apartment units are split into (7) 1 bed / 1 bath units, (26) 2 bed / 2 bath units, and (1) 3 bed / 2 bath unit. Out of the 34 units, 8 of them (all 2 bed units) are restricted to low income housing. However, this restriction became a moot point when the property was purchased by an affordable/supportive housing provider who's purpose is to rent all of the units to low income households or to the homeless.

Deal Story

Over the past few years, our team and the Liberow group have created a great partnership with many affordable and supportive housing providers in helping them find properties to purchase. Our partnership with these buyers have become a perfect fit because our team has excellent relationships with hundreds of developers throughout Los Angeles. These buyers' ideal property for their affordable unit needs are buildings that are fully vacant. Of course, that's nearly impossible to find in LA unless you buy brand-new construction buildings right after Certificate of Occupancy and before the property has been leased up. With our unmatched

One of our supportive housing buyers asked for our help to find a suitable building in LA Council District 7, a District they did not have any affordable units in yet. This district covers much of the northeastern part of the San Fernando Valley and includes the cities...