Marcus & Millichap brokers $51 million sale of 132-unit Los Angeles multifamily asset

Marcus & Millichap recently completed the sale of a 132-unit multifamily property in Los Angeles for $51 million, reflecting strong demand for institutional-quality assets in the city’s competitive real estate market. The property, located at 1443 N Fuller Ave., was sold for $386,364 per unit, a price per unit that underscores the asset’s appeal in a market characterized by limited new supply and sustained occupancy levels.

The property, built in 1987, features a mix of 34 one-bedroom/one-bath units and 48 two-bedroom/two-bath units, with amenities including subterranean parking, a gym, leasing office, and balconies that enhance the living experience. The building is situated near major transit hubs, entertainment venues, and educational institutions, contributing to its strategic location and long-term value potential.

Tony Azzi and Rabbie Banafsheha of the Azzi Group represented the seller in the transaction. They highlighted the property’s proximity to Sunset Boulevard and the ongoing reinvestment in the Central Los Angeles area as key factors supporting its value appreciation.

The sale is part of Marcus & Millichap’s broader activity in the multifamily sector, with the firm having closed over 8,800 transactions in 2025 alone. The Los Angeles multifamily market continues to attract investor interest due to its demographic trends, infrastructure development, and proximity to employment centers.