Buyer Finds El Dorado in Sherman Oaks
- Oct 20, 2015
A Sherman Oaks condo property recently traded hands in a deal worth $19.5 million. Acquired by an international buyer from the property’s Florida-based owner and developer, the property offers a total of 33 condominium units. According to the statement announcing the transaction, the new owner already owns a number of assets in the area and was looking to expand its portfolio.
The transaction was arranged by Managing Director Brent Sprenkle of Berkadia’s West Los Angeles office, who worked on behalf of the seller.
El Dorado Villas is located at 4510 Murietta Ave., offering proximity to major employment centers such as Cedar Sinai Medical Center, UCLA, UCLA Health System, The Walt Disney Company, and Warner Bros. Studios. Also nearby are major transportation lines I-405, State Route 101 and Ventura Boulevard.
The unit mix at the condominium community consists of two- and three-bedroom apartments. Built in 2008, the asset offers residents an amenity package that includes a fitness center, BBQ area, landscaped courtyards, tandem parking spots, and underground parking. According to Brent Sprenkle it was the community’s “individually deeded condos that can be sold separately in the future” that peaked the buyer’s interest. Units at El Dorado Villas offer stainless steel appliances, hardwood floor, washer/dryer units, walk-in closets and granite countertops.
Image courtesy of berkadiarea.com