Units: 36 · Sale price: $7,200,000 · Price per unit: $200,000 · Closed: September 2014
A 36-unit larger multifamily property at 14833 Magnolia Ave in Sherman Oaks, sold September 2014 for $7,200,000 — approximately $200,000 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, cap rates compressing steadily in core submarkets.
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.
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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