Units: 8 · Sale price: $1,745,000 · Price per unit: $218,125 · Closed: February 2013
A 8-unit small multifamily property at 22423 Del Valle St in Woodland Hills, sold February 2013 for $1,745,000 — approximately $218,125 per unit.
2013 was early in the sustained LA multifamily expansion that would run through 2022. Transaction activity was climbing; buyer pool was broadening quarter over quarter.
Woodland Hills is western Valley LA City multifamily, with a higher share of post-1978 inventory than most Valley submarkets.
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 — $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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