80-Res Community in Northeast San Fernando Valley Sells for $16 Mil

Villa Vincennes Apartments

Villa Vincennes Apartments, an 80-unit multifamily asset in the northeast San Fernando Valley, was purchased by a private investor for $16.2 mil, or just over $200K/unit. The property is located at 14611 Vincennes, at the northwest corner with Van Nuys Blvd, north of Nordhoff St.

Built in 2009, Villa Vincennes Apartments is an 83.9K sf, three-story apartment complex with a unit mix consisting of 26 one-bed/one-bath units, 41 two-bed/two-bath units, and 13 three-bed/two-bath units.

Building amenities include a fitness/health center, red-room, swimming pool, on-site laundry facilities on every floor, and gated subterranean parking spaces. Unit amenities include Corian kitchen counter tops, brand new stainless steel appliances, nine ft high ceilings, hardwood floors, plush new carpeting and free satellite DirecTV in every unit.

Clark Everitt, Senior Vice President, William Everitt, Vice President and David Leibowitz, Associate, at Investment Real Estate Associates (IREA) represented the seller, a private LLC. The buyer, a private family trust, was also repped by Everitt and Everitt, along with Julian Curry, Associate at IREA.