Units: 61 · Sale price: $6,700,000 · Price per unit: $109,836 · Closed: March 2014
A 61-unit larger multifamily property at 7237-7261 Amigo Ave in Reseda, sold March 2014 for $6,700,000 — approximately $109,836 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, pricing compressing steadily in core submarkets.
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.
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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