Units: 6 · Sale price: $1,635,000 · Price per unit: $272,500 · Closed: September 2024
A 6-unit small multifamily property at 4556 Hazeltine Ave in Sherman Oaks, sold September 2024 for $1,635,000 — approximately $272,500 per unit.
2024 LA multifamily began the recovery — transaction volume rebuilt toward $6.9B, institutional capital returned to active bidding, pricing stabilized.
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.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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