45-Unit Garden Apartment Property Trades in LA’s Palms Neighborhood
Northmarq’s Los Angeles Investment Sales team of Mike Hanassab, Steven Goldstein and Elliot Hassan arranged the $13.125-million sale of 3717 Cardiff Ave., a 45-unit garden apartment community located in the Palms neighborhood of Los Angeles, near Culver City. Northmarq represented the seller, a family that had owned the property since the mid-1970s, and the buyer, a local private investor.
“Cardiff represented a unique buying opportunity in a submarket that rarely offers 40-plus-unit properties for sale,” said Goldstein. “Given the rarity of the opportunity, our marketing process generated over 20 private tours and double-digit offers, with several non-refundable at the opening of escrow. The surrounding submarket is lined with institutional capital, which gave the buyer confidence in continued demand and the neighborhood’s overall desirability.”
Built in 1973, 3717 Cardiff Ave. is a three-story multifamily community consisting of 31 one-bedroom and 14 two-bedroom apartment homes. Units feature oversized floor plans, in-unit fireplaces and private balconies in most units.
Join the region’s leading multifamily owners, developers, investors, lenders, and brokers at Connect Texas Multifamily on August 13 in Dallas for a focused discussion on the market forces redefining Texas real estate. Be in the room with the decision-makers driving deals and growth across Texas. Register today: www.ConnectTXMF2026.com.
Other News
JLL Arranges Financing for Lightstone Acquisition on Upper West Side
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
Learn more
National City Investment Group Commences Workforce Housing Build
The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
Learn more
Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets
Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout