Units: 8 · Sale price: $2,040,000 · Price per unit: $255,000 · Closed: January 2016
A 8-unit small multifamily property at 14930 Magnolia Ave in Sherman Oaks, sold January 2016 for $2,040,000 — approximately $255,000 per unit.
2016 was mid-cycle for LA multifamily. Pricing had firmed meaningfully from post-2008 lows. Strong bid across stabilized inventory.
Sherman Oaks is the Valley floor's most-demanded multifamily submarket. Mixed building ages — pre-1978, 1980s, and post-1995 — trade at distinct price points 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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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