Units: 118 · Sale price: $27,100,000 · Price per unit: $229,661 · Closed: October 2020
A 118-unit larger multifamily property at 6262-6322 Reseda Blvd in Tarzana, sold October 2020 for $27,100,000 — approximately $229,661 per unit.
2020 LA multifamily absorbed a Q2 COVID shock and recovered through H2. Pricing held for stabilized inventory; transaction volume returned by year-end.
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.
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