Transit-oriented North Hollywood residential complex is for sale
The 14-story residential and retail complex at 5440 N. Tujunga Ave. is being sold by Beverly Hills investment fund Kennedy Wilson and two institutional partners, according to real estate broker Institutional Property Advisors, a division of Marcus & Millichap.
Completed in 2008 after the housing market sank, the building’s 180 units are now for lease as apartments. No price has been set, but property experts familiar with the San Fernando Valley market estimate it could garner as much as $80 million.
The building is near stops on the Red Line subway and the Orange Line bus rapid transit network, said broker Ron Harris, who has the listing with Greg Harris.
-- Roger Vincent
Photo: The NoHo 14 residential tower in North Hollywood. Credit: Institutional Property Advisors