A new multifamily investment opportunity has recently been made available in Reseda. The property, known as The Windmere Court Apartments, has recently been placed on the market with an asking price of $18.49 million, or about $355,73 per square foot. True North CRE of Compass Commercial is marketing the asset, which is located at 18325 Saticoy St. The property is marketed on behalf of the owner, an entity affiliated with Kestona LTD and Sylemona LTD, according to public records.
Built in 1989, the complex comprises a mix of 44 two-bedroom and two-bathroom units, six three-bedroom and two-bathroom units and two three-bedroom and three-bathroom units, according to marketing materials. The site also offers residents a host of amenities, including a swimming pool, jacuzzi, basketball court, community BBQ area and laundry facilities. The property also provides two parking spaces per unit.
Situated in Reseda, an affluent enclave within the San Fernando Valley, the property offers easy access to popular dining venues, upscale boutiques, parks and more. It is also within close proximity of Westfield Topanga and the Northridge Fashion Center. Located 2.1 miles from Reseda Station, residents have convenient access to public transportation as well. Additionally, key freeways — the 405, 101, and 27 — are easily reachable from the property.
The area is also home to a large population, with 624,995 people residing within a five-mile radius. Those living within a five-mile radius also earn an average household income of $98,968 per year. A number of major employers are also located within the larger San Fernando Valley, including Warner Bros.Universal, Kaiser Permanente and many others.
