Units: 16 · Sale price: $3,790,000 · Price per unit: $236,875 · Closed: November 2019
A 16-unit mid-size multifamily property at 14632 Magnolia Blvd in Sherman Oaks, sold November 2019 for $3,790,000 — approximately $236,875 per unit.
2019 LA multifamily held at peak-cycle pricing. Late-cycle discipline was visible in buyer underwriting, particularly on assets requiring active management.
Sherman Oaks is the Valley floor's most-demanded multifamily submarket. Mixed building ages — pre-1978, 1980s, and post-1995 — trade at distinct cap rates on the same street.
Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.
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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