13506 Rye Street, Sherman Oaks — 15-Unit Multifamily, $2.9M (Apr 2013)

Updated April 28, 2026

Units: 15 · Sale price: $2,900,000 · Price per unit: $193,333 · Closed: April 2013

A 15-unit mid-size multifamily property at 13506 Rye Street in Sherman Oaks, sold April 2013 for $2,900,000 — approximately $193,333 per unit.

2013 was early in the sustained LA multifamily expansion that would run through 2022. Transaction activity was climbing; buyer pool was broadening quarter over quarter.

Sherman Oaks is the Valley floor's most-demanded multifamily submarket. Mixed building ages — pre-1978, 1980s, and post-1995 — trade at distinct price points on the same street.

Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.

Set against the rest of the Sherman Oaks record, this is the 10th largest of the 17 Sherman Oaks apartment buildings Michael Sterman has closed.

At $193,333 a unit it sits 19% below the Sherman Oaks median of $237,708. Per-unit price tracks condition and the in-place rent roll as much as location, so the gap is a starting question rather than a verdict.

Other Sherman Oaks closings the same year: 14258 Dickens Street (11 units, $1,435,000), 4721 Kester Avenue (10 units, $1,915,000), 14701 Dickens St (8 units, $2,000,000).

This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.

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Related

• Selling Multifamily Property in Sherman Oaks
• Sherman Oaks: the neighborhood, its buildings and what they sell for
• How to Sell a Multifamily Property in Los Angeles
• Request a free evaluation of your building
• Verify this sale independently — search public records and coverage for this transaction yourself

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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.