Meta Housing Corporation Sells Burbank Senior Artists’ Colony
Meta Housing Corporation has finalized the sale of the Burbank Senior Artists’ Colony, a specialized age-restricted apartment community in Burbank, California, for a total of $31.5 million, equating to approximately $223,404 per unit.
Property Details
The 141-unit property, located at 240 East Verdugo Avenue, was acquired by a Los Angeles-based investor through a transaction facilitated by Northmarq.
Construction and Features
Constructed in 2005, the complex offers one- and two-bedroom apartments equipped with in-unit washers and dryers, along with hardwood flooring. All residences are designated for residents aged 55 and older, with some units reserved for individuals on limited incomes, making the property eligible for a 30% tax abatement.
Amenities
Amenities include a clubhouse, business center, media room, and art studio, providing a comprehensive living environment for its residents.
Contact Information
For comments or inquiries, contact Carly Pendergast at (267) 865-3762 or via email.