Mogharebi Completes Sale of LA Community
Loma Vista Apartments, located in the Pacoima neighborhood of Los Angeles, changed hands for nearly $11 million. Mogharebi represented the seller and the buyer in the deal.
By Evelyn Jozsa
The Mogharebi Group has arranged the sale of Loma Vista Apartments, a 60-unit value-add property in Pacoima, a neighborhood in Los Angeles, for $10.8 million. The company worked on behalf of the seller, a San Gabriel Valley-based private investor, and represented the buyer, a private investment group based in West Los Angeles.
Located at 12544 Van Nuys Blvd., the community is close to Sub Valley Metrolink Station, as well as to freeways 210, 118 and 5. Loma Vista is also near several employers, such as The Walt Disney Co., Warner Bros Entertainment, Providence St. Joseph’s Hospital and Bob Hope Airport. The apartment community was constructed in 1957 on 2.4 acres and comprises a mix of one-, two- and three-bedroom apartments, ranging from 600 to 973 square feet. Characteristics of the units include granite-inspired countertops, plush carpeting in the bedrooms and wood laminate in the living areas; some of the units include a balcony as well. Communal areas feature:
- laundry centers
- garden/courtyard with walkways
- controlled access
The Mogharebi Group’s brokerage team included Alex Mogharebi and Otto Ozen. Last November, the team arranged the record-breaking sale of Spring Meadows Apartments in Fairfield, Calif.
Image courtesy of Yardi Matrix