Units: 72 · Sale price: $17,000,000 · Price per unit: $236,111 · Closed: February 2021
A 72-unit larger multifamily property at 18317-18331 Kittridge St in Reseda, sold February 2021 for $17,000,000 — approximately $236,111 per unit.
2021 was LA multifamily's cyclical peak. Pricing compressed aggressively across submarkets. Transaction volume reached approximately 1,200 deals — the highest in over a decade.
Reseda is predominantly pre-1978 LA City RSO inventory. Buyer pool skews local operators and value-add syndicators; institutional participation is more selective than in core LA.
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 — over fourteen years at Marcus & Millichap.
This building has appeared in the archive 2 times. See the full transaction history for 18317-18331 Kittridge St, Reseda.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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