Press Releases
Marcus & Millichap Arranges $5.89M Sale of 41-Unit Multifamily Property in North Hollywood, California
October 02, 2026
LOS ANGELES, Oct. 2, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of 13103 Barbara Ann St., a 41-unit multifamily property in North Hollywood, California. The property sold for nearly $5.89 million, or $143,610 per unit, and closed escrow at a 5.70 percent cap rate based on in-place income.
“The property had been under the same ownership for more than 30 years, creating a rare opportunity to acquire an asset of this size with significant repositioning potential,” said Rick Raymundo, executive managing director investments. “As recent pricing volatility has eased, we’re seeing buyers move with more confidence on well-priced properties when sellers are committed to completing a transaction. This buyer plans to make common area and interior upgrades throughout the property.”
Raymundo, in Marcus & Millichap’s Encino office, had the exclusive listing to market the property on behalf of the seller, The Kwan Trust, and procured the buyer, a San Fernando Valley-based limited liability company.
Built in 1972, the 24,256-square-foot property is situated on 0.90 acres at 13103 Barbara Ann St. The property consists of 41 one-bedroom, one-bath units and features 54 on-site parking spaces and an on-site laundry facility. Recent capital improvements include new electrical subpanels installed throughout the property in 2026, a new water heater and storage tank installed in 2025 and new windows. Located near Sherman Way and Coldwater Canyon Avenue, the property provides access to the 170 Freeway and nearby shopping and services.
“The property had been under the same ownership for more than 30 years, creating a rare opportunity to acquire an asset of this size with significant repositioning potential,” said Rick Raymundo, executive managing director investments. “As recent pricing volatility has eased, we’re seeing buyers move with more confidence on well-priced properties when sellers are committed to completing a transaction. This buyer plans to make common area and interior upgrades throughout the property.”
Raymundo, in Marcus & Millichap’s Encino office, had the exclusive listing to market the property on behalf of the seller, The Kwan Trust, and procured the buyer, a San Fernando Valley-based limited liability company.
Built in 1972, the 24,256-square-foot property is situated on 0.90 acres at 13103 Barbara Ann St. The property consists of 41 one-bedroom, one-bath units and features 54 on-site parking spaces and an on-site laundry facility. Recent capital improvements include new electrical subpanels installed throughout the property in 2026, a new water heater and storage tank installed in 2025 and new windows. Located near Sherman Way and Coldwater Canyon Avenue, the property provides access to the 170 Freeway and nearby shopping and services.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
