Marcus & Millichap Represents Elizabeth Boyajian In $17.75M Sale Of Tujunga Multifamily Property

A multifamily property located at 10150 Hillhaven Ave in Tujunga, CA has been sold for a record-breaking price. The property consists of 34 units with a total square footage of 34,261. The sale price for this transaction was $17,750,000, resulting in a per unit price of $522,059 and a price per square foot of $518. This sale represents the highest sale price ever recorded in Tujunga, as well as the highest price per square foot and price per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,750,000
• Units: 34
• Price per Unit: $522,059
• Total Square Footage: 34,261
• Price per Square Foot: $518

The seller in this transaction was Elizabeth Boyajian. The buyer was represented by Sam Liberow from The Liberow Group at Marcus & Millichap. On the seller's side, Ed Chao, Filip Niculete, and Glen Scher from Marcus & Millichap LAAA Team played a role in the deal. The buyer of the property is an affordable/supportive housing buyer.

This sale is notable for being sold 100% vacant and one week after the certificate of occupancy was issued. It achieved a 4.07% capitalization rate (pro forma) and a 16.25 gross rent multiplier (pro forma). The deal marks a significant milestone in the Tujunga market, setting new records for the highest sale price ever, as well as the highest price per square foot and price per unit.