Units: 34 · Sale price: $10,025,000 · Price per unit: $294,852 · Closed: September 2017
A 34-unit larger multifamily property at 12245 Chandler Blvd in Valley Village, sold September 2017 for $10,025,000 — approximately $294,852 per unit.
2017 LA multifamily pricing approached cycle peaks. Buyer discipline was tightening on value-add deals even as top-line pricing continued to advance.
Valley Village is central Valley LA City RSO territory, with demographics favoring stable tenant retention.
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 — $1.41 billion across 254 closed transactions over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
$1.41 billion across 254 closed transactions.
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