Empire USA proposes 270-unit condo complex in Sherman Oaks
Empire purchased the property for an undisclosed amount in 2012, according to CoStar. The company, largely active on the West Coast, has invested in various types of real estate, including multifamily residential, retail, and commercial projects. Some of its most recent acquisitions in Los Angeles include five contiguous apartments in Valley Village and a 12-acre complex in Ventura.
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The multifamily complex consists of 284 one-bedroom, 28 two-bedroom, one-bath units, and 30 two-bedroom, two-bath units, ranging in size from 600 square feet to 1,050 square feet. Amenities include washer/dryers, high speed internet, fitness center, and swimming pool. The asset was 91 percent leased at closing.
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