Blockchain Registration Transaction Record

Encino Office Building Sold for $20.64M to Become Affordable Housing

Lee & Associates brokers $20.64M sale of Encino office building for conversion into affordable housing, addressing Southern California's housing crisis.

This news underscores the critical need for affordable housing solutions in Southern California and showcases how commercial real estate can be repurposed to meet this demand. The conversion of office buildings into residential units not only addresses housing shortages but also revitalizes underutilized properties, benefiting communities and investors alike. It reflects a broader shift in real estate strategies towards sustainability and social impact, making it relevant for stakeholders in housing, urban development, and commercial real estate.