Units: 22 · Sale price: $12,950,000 · Price per unit: $588,636 · Closed: January 2019
A 22-unit mid-size multifamily property at 7105-7123 Tampa in Reseda, sold January 2019 for $12,950,000 — approximately $588,636 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.
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.
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