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Marcus & Millichap Brokers $27M Tarzana MF
Bechir Apartments, a 118-unit multifamily asset in Tarzana, traded hands for $27.1 million. That works out to about $229,661-per-unit.
Built in 1969 on over two acres, the property has 24 studios, 52 one-bedroom units, and 42 two-bedroom apartments. Amenities include two swimming pools, an on-site laundry, a fitness center and sauna, a large office space, and open parking spaces.
“With only about 6,500 market-rate units, Tarzana is one of the smallest multifamily submarkets in Los Angeles, and with fewer than 10 sales recorded in a typical year, apartment sales are relatively rare,” said Marcus & Millichap’s Michael Sterman, who handled the deal along with Jeff Louks.
The property is near the 101 Freeway, Ventura Boulevard, and the Metro Orange Line, which provide access to major employment hubs in Woodland Hills and Century City.
“Vacancies are low in Tarzana and the property’s close proximity to Ventura Boulevard and Warner Center will help ensure future rent growth,” added Louks.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
