Units: 24 · Sale price: $5,705,000 · Price per unit: $237,708 · Closed: April 2014
A 24-unit mid-size multifamily property at 4433 Murietta Ave in Sherman Oaks, sold April 2014 for $5,705,000 — approximately $237,708 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, pricing compressing steadily in core submarkets.
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.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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