Units: 100 · Sale price: $17,750,000 · Price per unit: $177,500 · Closed: July 2015
A 100-unit larger multifamily property at 12711 Branford St in Pacoima, sold July 2015 for $17,750,000 — approximately $177,500 per unit.
By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of submarkets.
Pacoima is northern Valley LA City inventory, predominantly pre-1978 RSO, value-add oriented.
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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