8801 Tobias Ave, Panorama City — 22-Unit Multifamily, $2.1M (Nov 2013)

Updated April 28, 2026

Units: 22 · Sale price: $2,100,000 · Price per unit: $95,454 · Closed: November 2013

A 22-unit mid-size multifamily property at 8801 Tobias Ave in Panorama City, sold November 2013 for $2,100,000 — approximately $95,454 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.

Panorama City is eastern Valley inventory, predominantly pre-1978 LA City RSO, with a buyer pool concentrated in local operators and value-add syndicators.

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 Panorama City record, this is the smallest of the 5 Panorama City apartment buildings Michael Sterman has closed.

At $95,455 a unit it sits 30% below the Panorama City median of $135,849. 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 Panorama City closings the same year: 8616 Willis Avenue (53 units, $7,200,000), 9261 Wakefield Avenue (25 units, $3,935,150).

This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.

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Related

• Selling Multifamily Property in Panorama City
• 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

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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.