.GLENDALE, CA – Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of Legacy at Westglen (top left photo), a two-building, 77-unit apartment complex in Glendale. The terms of the sale were not disclosed.
Ron Harris (middle right photo), an executive vice president, and Joseph Smolen (lower left photo), an associate director, both in Los Angeles, represented the seller, TIAA-CREF Global Real Estate and the buyer, Acacia Realty Corp.
“Even though Legacy at Westglen underwent moderate renovations in 2006-2007, there is still an excellent opportunity to add value to this asset by instituting a premier renovation program,” states Harris. “For the buyer, this asset provided a rare chance to acquire a high-quality stable apartment building in the desirable Glendale market.”
Built in 1984, the 80,766-square foot property is located at 1151-1161 Sonora Ave., within blocks of the local public elementary school. Shopping and entertainment are available within walking distance at Kenneth Village, a quaint shopping area featuring a variety of merchants and eateries.
Glenoaks Boulevard, a major thoroughfare lined with retail stores and restaurants, is one block south of the property. One of the highest-end retail facilities in the country, Americana at Brand, is less than five minutes away.
Legacy at Westglen features a sparkling swimming pool, a new fitness center, two spas, controlled subterranean parking, separate storage lockers, Wi-Fi access, a barbecue area, 24-hour laundry facilities and secure access controlled by an intercom.
Apartments at Legacy at Westglen have central heating and air conditioning, custom paint, new appliances, walk-in closets, mirrored sliding doors, garbage disposals, microwave ovens and dishwashers.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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