Units: 40 · Sale price: $16,450,000 · Price per unit: $411,250 · Closed: April 2019
A 40-unit larger multifamily property at 10656 Moorpark St in Toluca Lake, sold April 2019 for $16,450,000 — approximately $411,250 per unit.
2019 LA multifamily held at peak-cycle pricing. Late-cycle discipline was visible in buyer underwriting, particularly on assets requiring active management.
Toluca Lake is a small, stable Valley submarket. Buildings transact infrequently but pricing holds when they do.
Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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