Units: 118 · Sale price: $22,000,000 · Price per unit: $186,440 · Closed: July 2015
A 118-unit larger multifamily property at 6262-6322 Reseda Blvd in Tarzana, sold July 2015 for $22,000,000 — approximately $186,440 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.
Tarzana is western Valley LA City multifamily. Local operator buyer pool dominates, with less institutional depth than central LA submarkets.
Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.
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 →