Simi Valley apartment sale tops $10.5M

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Brokerage Marcus & Millichap today announced it has arranged the sale of Garden Apartments, an 84-unit multifamily community in Simi Valley, Calif. The sales price of $10.5 million represents $125,298 per unit. A private family partnership bought the two-story building from Redfern Family Trust. Located at 1851 Buyers St., the 57,800-square foot apartment community is situated on three landscaped acres. The Garden Apartments property includes 68 one-bedroom/one-bath units and 16 two-bedroom/one-bath units. Amenities include wall air-conditioning and heating units, an on-site laundry facility, a swimming pool and central courtyard. ...