Units: 72 · Sale price: $12,800,000 · Price per unit: $177,777 · Closed: June 2015
A 72-unit larger multifamily property at 18317-18331 Kittridge St in Reseda, sold June 2015 for $12,800,000 — approximately $177,777 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.
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.
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.
This building has appeared in the archive 2 times. See the full transaction history for 18317-18331 Kittridge St, Reseda.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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