Units: 36 · Sale price: $15,215,000 · Price per unit: $422,638 · Closed: February 2018
A 36-unit larger multifamily property at 350 S Reno St in Los Angeles, sold February 2018 for $15,215,000 — approximately $422,638 per unit.
2018 LA multifamily was at or near cyclical peak pricing. Institutional capital remained active across asset classes. Transaction volume was high.
Core LA metropolitan area multifamily — specific submarket varies; common LA City RSO regulatory profile on pre-1978 inventory.
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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