Units: 100 · Sale price: $23,950,000 · Price per unit: $239,500 · Closed: May 2019
A 100-unit larger multifamily property at 6425 Reseda Blvd in Reseda, sold May 2019 for $23,950,000 — approximately $239,500 per unit.
2019 LA multifamily held at peak-cycle pricing. Late-cycle discipline was visible in buyer underwriting, particularly on assets requiring active management.
Reseda is predominantly pre-1978 LA City RSO inventory. Buyer pool skews local operators and value-add syndicators; institutional participation is more selective than in core LA.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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