240-260 E Providencia Ave, Burbank — 15-Unit Multifamily, $5.2M (Mar 2026)
Updated April 28, 2026
Units: 15 · Sale price: $5,225,000 · Price per unit: $348,333 · Closed: March 2026
A 15-unit mid-size multifamily property at 240-260 E Providencia Ave in Burbank, sold March 2026 for $5,225,000 — approximately $348,333 per unit.
2026 opened with transaction volume on pace to exceed $7 billion and active institutional bidding across submarkets. The December 2025 RSO rewrite was beginning to reprice pre-1978 LA City inventory through the year.
Burbank operates under its own jurisdiction distinct from LA City RSO. Institutional demand tied to the city's employment base and transit access.
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 Burbank record, this is the largest of the 4 Burbank apartment buildings Michael Sterman has closed.
At $348,333 a unit it sits 17% above the Burbank median of $298,917. 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.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Burbank
- How to Sell a Multifamily Property in Los Angeles
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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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