San Fernando Valley Apartments Trade for $28M
Universe Holdings Development acquired the community.
Universe Holdings Development has acquired Park Encino, a 52-unit apartment community located at 4940 Paso Robles Ave. in the Encino neighborhood of Los Angeles, for $28 million. The last time the asset traded, it was part of a 17-property portfolio acquired by Chicago-based LivCor in 2017, according to Yardi Matrix.
Institutional Property Advisors represented the seller in the transaction. According to IPA, the transaction represents the first core-plus, 50-plus unit multifamily sale in Encino since 2017.
Built in 2014, the gated Park Encino includes mostly two-bedroom units, but also some three-bedroom apartments. Common-area amenities include a central courtyard, a clubhouse, a fitness center, an outdoor patio, and barbecue grills. Apartment interiors feature washers and dryers, shaker-style cabinetry and walk-in closets. The property is LEED Gold certified.
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No institutional-sized projects of 50-plus units have been delivered in Encino since 2016, Kevin Green, IPA executive managing director investments, said in a statement. The figure stands despite the Encino market’s occupancy rate, which exceeds 97 percent, Green said. Single-family prices have also mushroomed in Encino over the last 10 years.
Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller and procured the buyer in the deal. Brian Eisendrath, Cameron Chalfant and Patrick Barker of IPA Capital Markets arranged acquisition financing.
Century City, Calif.-based Universe Holdings, a specialist in Southern California multifamily, generally targets assets that need light-to-moderate renovations or other operational upgrades.
Investors still on the hunt for SoCal multifamily
Occupancy for stabilized Los Angeles-area multifamily assets remained solid toward the end of 2025, at 95.9 percent, or 130 basis points ahead of the U.S. average, Yardi Matrix reports. That was the case despite a significant supply expansion in recent years, though there has been very little in the way of rent increases.
Investors are nevertheless interested in the market. In April, Kilroy Realty completed the $202 million sale of Columbia Square Living and Jardine, two apartment towers totaling 393 units in Hollywood, Calif. Advanced Real Estate was the buyer, which said the deal is the largest apartment trade so far this year.
Also in April, a family-run office acquired two properties with a total of 61 units in Brentwood, Calif., another submarket of Los Angeles, for a combined $46.4 million.
