Units: 52 · Sale price: $13,250,000 · Price per unit: $254,807 · Closed: October 2017
A 52-unit larger multifamily property at 20135 Keswick St in Winnetka, sold October 2017 for $13,250,000 — approximately $254,807 per unit.
2017 LA multifamily pricing approached cycle peaks. Buyer discipline was tightening on value-add deals even as top-line pricing continued to advance.
Winnetka is western Valley LA City, similar profile to Reseda and Canoga Park on the pricing spectrum.
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.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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