Hot Property: Michael Paul Chan of ‘The Closer’ closes in Sherman Oaks

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Actor Michael Paul Chan, who play Lt. Mike Tao in the police series ‘The Closer,’ has purchased a mid-century modern home in Sherman Oaks for $1.08 million.

The 1952 post-and-beam house, with three bedrooms and two bathrooms in 1,864 square feet, came on the market in late April at $1,149,000. The listing agent was Steve Shrager of Prudential California Realty.

In Chan’s 91423 ZIP Code, 36 single-family sold in the first quarter at a median price of $664,000, according to MDA DataQuick. That was a price decline of 30.2% from the first quarter of 2008. In April there were 12 home sales at a median price of $841,000, down 7.1% from the previous April. May figures are coming out this week.

-- Lauren Beale

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