Jeffrey Louks & Matt Ziegler Of Marcus & Millichap Sell 50-Unit Multifamily In Sherman Oaks For $10M

A 50-unit multifamily property located at 14556 Magnolia Boulevard in Sherman Oaks has sold for $10 million. The building spans 39,198 square feet and was originally built in 1961, presenting opportunities for rent increases through potential unit renovations. It also includes amenities such as a pool, fitness center, and gated parking, set on a 0.57-acre lot.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Address: 14556 Magnolia Boulevard
• Market: Sherman Oaks
• Units: 50
• Price per Unit: $200,000
• Square Footage: 39,198
• Price per Square Foot: $255

The deal was facilitated by brokers Jeffrey Louks and Matt Ziegler from Marcus & Millichap, representing the parties involved in the transaction.