{"id":1004053390,"date":"2012-07-23T19:40:29","date_gmt":"2012-07-24T03:40:29","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=58325"},"modified":"2022-12-08T23:07:27","modified_gmt":"2022-12-09T07:07:27","slug":"san-fernando-valley-apartment-community-awaiting-new-owner","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-fernando-valley-apartment-community-awaiting-new-owner\/","title":{"rendered":"San Fernando Valley Apartment Community Awaiting New Owner"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>Marcus &amp; Millichap\/Institutional Property Advisors is currently marketing a North Hollywood multifamily property for approximately $30 million. The Marquee Apartments is a residential community in the eastern part of the San Fernando Valley community of North Hollywood, at 12300 Sherman Way. The team that is handling the fee-simple interest in the property includes Greg Harris, Kevin Green and Joseph Grabiec.<\/p>\n<p>The listing price for the<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/marquee-apts.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-58336\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/marquee-apts.jpg\" alt=\"\" width=\"300\" height=\"222\" \/><\/a> 236-unit asset is $29.995 million which breaks down into a per unit asking price of $127,000. The Marquee Apartments has gone through a number of renovations over the last three years, with a total of $4 million invested by the owner in the property. Developed in 1965, the community still has 74 units that will require renovation by the new owner. According to Marcus &amp; Millichap\/Institutional Property Advisors, the property offers upscale living in the emerging North Hollywood area, at considerably lower prices than the more publicized NoHo and Arts District.<\/p>\n<p>The Marquee Apartments is organized into three two-story buildings with 194 studio units, 35 one-bedroom units and six two-bedroom units. The amenity package includes a swimming pool, a spa, fitness facilities, barbecue area and outdoor seating.<\/p>\n<p>As previously stated, the per-unit asking price for this up-and-coming residential community is around $127,000. Marcus &amp; Millichap estimates that, should the asking price be met, the transaction would exceed median per-unit values for the San Fernando Valley.<\/p>\n<p>The median transaction price, as illustrated<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/losanheles.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-58335\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/losanheles.jpg\" alt=\"\" width=\"300\" height=\"266\" \/><\/a> in the chart, stands in the mid $120k range, as projected for this year\u2019s Q3. 2008\u2019s high point saw prices overtake the $130,000 mark, while Q3 of 2009 dipped to the lowest median value in recent years, in the low $120k\u2019s.<\/p>\n<p>&nbsp;<\/p>\n<p>Photo courtesy of <em>themarqueeapts.com<\/em><br \/>\nChart courtesy of <em>marcusmillichap.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor Marcus &amp; Millichap\/Institutional Property Advisors is currently marketing a North Hollywood multifamily property for approximately $30 million. The Marquee Apartments is a residential community in the eastern part of the San Fernando Valley community of North Hollywood, at 12300 Sherman Way. The team that is handling the fee-simple interest in [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[1815],"class_list":["post-1004053390","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>San Fernando Valley Apartment Community Awaiting New Owner - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/san-fernando-valley-apartment-community-awaiting-new-owner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Fernando Valley Apartment Community Awaiting New Owner\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor Marcus &amp; Millichap\/Institutional Property Advisors is currently marketing a North Hollywood multifamily property for approximately $30 million. The Marquee Apartments is a residential community in the eastern part of the San Fernando Valley community of North Hollywood, at 12300 Sherman Way. The team that is handling the fee-simple interest in [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/san-fernando-valley-apartment-community-awaiting-new-owner\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-07-24T03:40:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:07:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/marquee-apts.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-fernando-valley-apartment-community-awaiting-new-owner\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-fernando-valley-apartment-community-awaiting-new-owner\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"San Fernando Valley Apartment Community Awaiting New Owner\",\"datePublished\":\"2012-07-24T03:40:29+00:00\",\"dateModified\":\"2022-12-09T07:07:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-fernando-valley-apartment-community-awaiting-new-owner\\\/\"},\"wordCount\":293,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-fernando-valley-apartment-community-awaiting-new-owner\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/07\\\/marquee-apts.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-fernando-valley-apartment-community-awaiting-new-owner\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-fernando-valley-apartment-community-awaiting-new-owner\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/san-fernando-valley-apartment-community-awaiting-new-owner\\\/\",\"name\":\"San Fernando Valley Apartment Community Awaiting New Owner - 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