6425 Reseda Blvd, Reseda — 100-Unit Multifamily, $23.9M (May 2019)
Updated April 28, 2026
Units: 100 · Sale price: $23,950,000 · Price per unit: $239,500 · Closed: May 2019
A 100-unit larger multifamily property at 6425 Reseda Blvd in Reseda, sold May 2019 for $23,950,000 — approximately $239,500 per unit.
2019 LA multifamily held at peak-cycle pricing. Late-cycle discipline was visible in buyer underwriting, particularly on assets requiring active management.
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.
Set against the rest of the Reseda record, this is the 2nd largest of the 8 Reseda apartment buildings Michael Sterman has closed.
At $239,500 a unit it sits 53% above the Reseda median of $156,639. 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 Reseda closings the same year: 7105-7123 Tampa Ave (22 units, $12,950,000).
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Reseda
- Reseda: the neighborhood, its buildings and what they sell for
- 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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