9041 Cedros Avenue, Panorama City — 25-Unit Multifamily, $2.9M (Jun 2014)
Updated April 28, 2026
Units: 25 · Sale price: $2,850,000 · Price per unit: $114,000 · Closed: June 2014
A 25-unit mid-size multifamily property at 9041 Cedros Avenue in Panorama City, sold June 2014 for $2,850,000 — approximately $114,000 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, pricing compressing steadily in core submarkets.
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 3rd largest of the 5 Panorama City apartment buildings Michael Sterman has closed.
At $114,000 a unit it sits 16% 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.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
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
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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