Marcus & Millichap Brokers Sell Tarzana Multifamily Property For $9.7M On Calvert St

An apartment building located at 18529 Calvert St in Tarzana, California was recently sold for a total price of $9,725,000. The multifamily property features a size of 22,936 square feet, resulting in a price per square foot of $424.32. The transaction included 24 units, with each unit being sold at an average price of $405,208. The capitalization rate for this sale was 4.53%, while the gross rent multiplier was 15.68.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $9,725,000
• Address: 18529 Calvert St
• Market: Tarzana

Filip Niculete and Glen Scher from Marcus & Millichap represented the parties involved in this transaction as the brokers. They played a crucial role in facilitating the successful sale of this apartment building in Tarzana.