Units: 39 · Sale price: $8,050,000 · Price per unit: $206,410 · Closed: March 2015
A 39-unit larger multifamily property at 11116 Aqua Vista St in Studio City, sold March 2015 for $8,050,000 — approximately $206,410 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.
Studio City is Valley floor LA City multifamily, mixed building ages, stable buyer pool.
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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