El Segundo, CA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate company announces the sale of an 18-unit apartment building located at 5250 Chesebro Rd in Agoura Hills, California for $11.5 M. The listing agent for the property was Senior Vice President & Senior Director of Matthews™ Multifamily division Daniel Withers. The property was co-listed with Jeffrey Louks, Matt Ziegler, and Jordan Fischer of Marcus and Millichap.
The Old Agoura Apartments consist of 18 three level townhome style units constructed in 2018. The apartments are in Agoura Hills, CA near the 101 freeway, providing easy access to both the San Fernando Valley and Ventura County. The property is situated near numerous dining and entertainment options and is in close proximity to Westlake Village, Calabasas, Warner Center, and Malibu.
The buyer, a private investor with multiple properties throughout Los Angeles County was sourced by the listing team. The buyers aim was to increase the number of units in their investment portfolio, and by doing so, was able to purchase a well-constructed asset that will become a legacy property. The seller, an active developer and operator in the Los Angeles area, was looking to reposition equity into future projects. The seller was able to benefit from receiving a high price per unit for this asset.
“5250 Chesebro Rd. is a unique product type in the highly desirable Agoura Hills community,” said Senior Vice President and Senior Director of Multifamily Daniel Withers. “There are very few multifamily transactions in Agoura Hills, CA. One of the challenges that the previous listing team faced was that a limited number of transactions have taken place in the immediate submarket for comparison. Our team was able to overcome this hurdle and ultimately sell the multifamily property in a way that benefited both the buyer and the seller.”
For more information regarding the sale of 5250 Chesebro Rd or if you have any questions relating to multifamily investments, please do not hesitate to reach out to Daniel Withers. To view our current listings, please visit www.matthews.com.
Matthews Real Estate Investment Services™ is recognized as an industry leader in Shopping Centers, STNL, Multifamily, Leasing, Management, Portfolio Disposition and 1031 Exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit www.matthews.com.