Valley View Apartment Complex in Los Angeles, CA Neighborhood Trades at $14.2 Million

Villa Fontaine Apartments, 11850 Riverside Drive, Valley View neighborhood, Los Angeles, CA

Ronald Harris

LOS ANGELES, CA– Marcus & Millichap, the nation’s largest real estate investment services firm, has arranged the sale of Villa Fontaine, a 71-unit apartment complex in Valley View, a neighborhood in the city of Los Angeles. The $14,200,000 sales price equates to $200,000 per unit.

            Ron Harris, an executive vice president investments, Paul Darrow, and Michael DiSimone, both senior associates, all in Marcus & Millichap’s Los Angeles office, represented the seller, the Lindquist and Morrow families. Harris, DiSimone and Darrow also represented the purchaser, private investors Bob Hart and Jay Schulman.

Paul Darrow

            “This was Villa Fontaine’s first time on the market in 35 years,” says Harris. “The property’s size, central location, amenity package and the opportunity it presents to add value make it well suited to provide healthy long-term returns.”

            “Villa Fontaine has not been renovated in 20 years,” adds Darrow, “although the previous owner did spend approximately $3 million on structural and other upgrades in the mid-1990s.”

            The apartment complex is located at 11850 Riverside Drive in the southeastern San Fernando Valley community of Valley Village. The location is adjacent to several major employment hubs including Burbank, Glendale and downtown Los Angles, which are all accessible via U.S. Highway 101, the Hollywood Freeway (State Route 170) and the Ventura Freeway (California State Route 134).

Michael DiSimone

Laurel Canyon Boulevard is two blocks away, putting residents within 15 minutes of Hollywood, West Hollywood and the Sunset Strip.

            Apartments at Villa Fontaine feature French-style entry doors, patios, ceiling fans and dishwashers. Select units have walk-in closets and fireplaces. Community amenities include controlled access entry, 89 one-level on-grade gated parking spaces, two elevators, a courtyard swimming pool and two laundry rooms on each floor.

 For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716