415 W Riverside Dr, Burbank — 10-Unit Multifamily, $1.9M (Mar 2023)
Updated April 28, 2026
Units: 10 · Sale price: $1,900,000 · Price per unit: $190,000 · Closed: March 2023
A 10-unit mid-size multifamily property at 415 W Riverside Dr in Burbank, sold March 2023 for $1,900,000 — approximately $190,000 per unit.
2023 was LA multifamily's transaction trough. Annual volume of $4.6B was a fifteen-year low as rates climbed and bid-ask spreads widened.
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 3rd largest of the 4 Burbank apartment buildings Michael Sterman has closed.
At $190,000 a unit it sits 36% below 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.
Other Burbank closings the same year: 561 E Orange Grove Ave (10 units, $2,895,000).
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
- Request a free evaluation of your building
- Verify this sale independently — search public records and coverage for this transaction yourself
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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