Marcus & Millichap negotiated the sale of the 170-unit Summer View Apartments in Sherman Oaks, Calif.

The value of the transaction was $20.3 million.

A partnership between private investors from New York and Southern California sold the property to Philadelphia-based Resource Capital Partners Inc.

Summer View is located at 15353 Weddington St. Originally constructed in 1964, Summer View was recently extensively refurbished with new interiors in the majority of the units. The property’s unit mix offered is comprised of two studio apartments, 167 one-bedroom/one bathroom apartments, and one two-bedroom/one-bath apartment ranging in size from 500 to 682 square feet.

The community is secure and gated with private basketball and tennis courts, a fully equipped fitness center, two swimming pools and spas, a community laundry facility and carport parking.

Occupancy was 98 percent at the time of sale.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Leaders from across the industry answered our call to come to Inman Connect and share essential advice for leveling up your 2021.SEE THE SPEAKERS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription