Units: 10 · Sale price: $1,595,000 · Price per unit: $159,500 · Closed: June 2015
A 10-unit mid-size multifamily property at 17920 Sierra Highway in Santa Clarita, sold June 2015 for $1,595,000 — approximately $159,500 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.
Santa Clarita is north LA County multifamily, outside LA City regulatory regime but within LA County.
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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