Units: 27 · Sale price: $2,925,000 · Price per unit: $108,333 · Closed: June 2015
A 27-unit mid-size multifamily property at 615 S Glendale Ave in Glendale, sold June 2015 for $2,925,000 — approximately $108,333 per unit.
By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of submarkets.
Glendale operates under its own local rental ordinance distinct from LA City RSO, producing a different buyer underwriting profile than comparable LA City buildings.
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 →