Units: 46 · Sale price: $8,575,000 · Price per unit: $186,413 · Closed: July 2016
A 46-unit larger multifamily property at 11840 Kittridge St in North Hollywood, sold July 2016 for $8,575,000 — approximately $186,413 per unit.
2016 was mid-cycle for LA multifamily. Pricing had firmed meaningfully from post-2008 lows. Strong bid across stabilized inventory.
North Hollywood has seen elevated new construction activity in recent years, creating a mixed age profile that buyers underwrite carefully by vintage.
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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