Units: 25 · Sale price: $2,910,000 · Price per unit: $116,400 · Closed: December 2013
A 25-unit mid-size multifamily property at 8628-8648 Langdon Ave in North Hills, sold December 2013 for $2,910,000 — approximately $116,400 per unit.
2013 was early in the sustained LA multifamily expansion that would run through 2022. Transaction activity was climbing; buyer pool was broadening quarter over quarter.
North Hills is Valley LA City RSO territory, similar profile to Panorama City and Van Nuys on the pricing spectrum.
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.
Thinking about selling? Get a no-obligation evaluation on your building.
Request Free Evaluation →