Units: 15 · Sale price: $2,855,000 · Price per unit: $190,333 · Closed: September 2014
A 15-unit mid-size multifamily property at 5328 Harmony Dr in North Hollywood, sold September 2014 for $2,855,000 — approximately $190,333 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, cap rates compressing steadily in core submarkets.
North Hollywood has seen elevated new construction activity in recent years, creating a mixed age profile that buyers underwrite carefully by vintage.
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 — $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.
Thinking about selling? Get a no-obligation evaluation from a broker with $1.41 billion across 254 closed LA multifamily transactions.
Request Free Evaluation →