Marcus & Millichap Closes $3.95M Sale Of West Hollywood Multifamily Property At 8514 Sherwood Drive

Marcus & Millichap closed the sale of a twelve-unit apartment property at 8514 Sherwood Dr. in West Hollywood's Tri-West submarket. The property, located at 8514 Sherwood Drive, is a multifamily asset consisting of 12 units. The sale price for the property was $3,950,000, resulting in a price per unit of $329,167. The transaction took place on 11/10/2023.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,950,000
• Address: 8514 Sherwood Drive
• Market: West Hollywood

The sale was brokered by Jason Tuvia, who is a senior managing director at Marcus & Millichap's Encino office. Tuvia represented the seller and facilitated the transaction with the buyer. As part of the deal, the buyer agreed to complete a soft-story retrofit for the property. Additionally, multiple rents for the units were below $600 per month, adding to the property's attractiveness.