Exclusive: Pacific Urban Investors Cashes In $44M for SoCal Asset
The property last traded in 2018.
Pacific Urban Investors has sold Sofi at Topanga Canyon, a 119-unit community in Chatsworth, Calif., according to Yardi Matrix information. Amoroso Cos. purchased the asset for $44 million, or $369,748 per unit, the same data provider shows. Manufacturers and Traders Trust Co. issued a $27.4 million acquisition loan.
The property last changed hands in 2018, when the company bought the community for $45 million, or $378,151 per unit, from Matteson Cos.
Earlier in August, Pacific Urban also sold Citra, a 147-unit value-add multifamily community in Sunnyvale, Calif., for $68.5 million.
Located at 9733 Topanga Canyon Blvd., on 3.2 acres, Sofi at Topanga Canyon is 30 miles northwest of downtown Los Angeles. Major thoroughfares in the area include state routes 27 and 118 and Interstate 5. Hollywood Burbank Airport is less than 18 miles away.
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Completed in 2009, the three-story building encompasses 30 one-bedroom, 84 two-bedroom and five three-bedroom apartment units, with layouts ranging between 846 and 1,349 square feet. At the time of the sale, the property was 97.5 percent occupied.
Shared amenities include a fitness center, swimming pool with clubhouse, business center, spa and subterranean parking with 208 spots.
A drop in San Fernando Valley sales
In the first three quarters of 2025, the San Fernando Valley saw $636.8 million in multifamily transaction volume, with 17 assets changing hands at an average per-unit price of $315,384, according to Yardi Matrix. The figure was slightly higher last year, with 14 properties trading at an average price per unit of $344,743 in the first nine months of 2024, amounting to $672.3 million in investment sales.
As of September, the national advertised asking rents slid $6 to $1,750, according to the latest Yardi Matrix Multifamily report. The annual growth across the U.S. stood at 0.6 percent, down 30 basis points, while the figures in Los Angeles rose 0.1 percent year-over-year. Month-over-month, however, the metro stood in line with the national figure, which clocked in at a negative 0.3 percent.
