Units: 10 · Sale price: $3,475,000 · Price per unit: $347,500 · Closed: November 2018
A 10-unit mid-size multifamily property at 11905 Avon Way in Mar Vista, sold November 2018 for $3,475,000 — approximately $347,500 per unit.
2018 LA multifamily was at or near cyclical peak pricing. Institutional capital remained active across asset classes. Transaction volume was high.
Mar Vista is Westside-adjacent LA multifamily. Pre-1978 LA City RSO exposure with a demographic demand profile approaching the Westside premium submarkets.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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