Units: 18 · Sale price: $3,300,000 · Price per unit: $183,333 · Closed: April 2014
A 18-unit mid-size multifamily property at 5510 Corteen Pl in Valley Village, sold April 2014 for $3,300,000 — approximately $183,333 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, pricing compressing steadily in core submarkets.
Valley Village is central Valley LA City RSO territory, with demographics favoring stable tenant retention.
Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.
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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