Units: 8 · Sale price: $2,000,000 · Price per unit: $250,000 · Closed: October 2013
A 8-unit small multifamily property at 14701 Dickens St in Sherman Oaks, sold October 2013 for $2,000,000 — approximately $250,000 per unit.
2013 was early in the sustained LA multifamily expansion that would run through 2022. Transaction activity was climbing; buyer pool was broadening quarter over quarter.
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.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
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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