Units: 32 · Sale price: $3,275,000 · Price per unit: $102,343 · Closed: October 2014
A 32-unit larger multifamily property at 9017 Columbus Ave in North Hills, sold October 2014 for $3,275,000 — approximately $102,343 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, cap rates compressing steadily in core submarkets.
North Hills is Valley LA City RSO territory, similar profile to Panorama City and Van Nuys on the pricing spectrum.
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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