Press Releases
Marcus & Millichap Arranges $5.4M Sale and $3.8M Financing of 20-Unit Multifamily Property in Los Angeles
September 10, 2026
LOS ANGELES, Sept. 10, 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 and financing of 1534 S Shenandoah St., a 20-unit multifamily property in Los Angeles. The property sold for $5.4 million or approximately $352 per square foot. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged $3.8 million in acquisition financing.
"This transaction highlights the opportunities available to long-term investors in today's market," said Sam Liberow, senior managing director investments. "The sellers significantly enhanced the property by adding four accessory dwelling units and renovating more than half of the apartment community, while the buyer recognized the opportunity to complete the remaining renovations and continue growing the property's income. Although today's higher interest rates have created pricing challenges, well-priced assets continue to attract strong investor interest."
Liberow, in Marcus & Millichap’s Encino office, had the exclusive listing to market the property on behalf of the seller. The buyer was a private investor.
Sharone Sabar, executive managing director in the firm’s Encino office, secured the acquisition financing on behalf of the buyer. After the buyer's original lender attempted to renegotiate the loan terms late in the transaction, MMCC stepped in and secured financing with more favorable terms, allowing the acquisition to close as planned. The loan features a 30-year term with full-term amortization at 70% loan-to-value.
Built in 1964, the property is situated on a 0.30-acre parcel at 1534 Shenandoah St. in Los Angeles' Pico-Robertson neighborhood. The 15,326-rentable-square-foot apartment community consists of 20 units, including 11 one-bedroom, one-bath units, five two-bedroom, two-bath units, three one-bedroom, one-bath accessory dwelling units and one studio accessory dwelling unit. Located near Century City, Santa Monica and downtown Culver City, the property provides residents with convenient access to major employment centers, shopping, dining and entertainment throughout the Westside.
"This transaction highlights the opportunities available to long-term investors in today's market," said Sam Liberow, senior managing director investments. "The sellers significantly enhanced the property by adding four accessory dwelling units and renovating more than half of the apartment community, while the buyer recognized the opportunity to complete the remaining renovations and continue growing the property's income. Although today's higher interest rates have created pricing challenges, well-priced assets continue to attract strong investor interest."
Liberow, in Marcus & Millichap’s Encino office, had the exclusive listing to market the property on behalf of the seller. The buyer was a private investor.
Sharone Sabar, executive managing director in the firm’s Encino office, secured the acquisition financing on behalf of the buyer. After the buyer's original lender attempted to renegotiate the loan terms late in the transaction, MMCC stepped in and secured financing with more favorable terms, allowing the acquisition to close as planned. The loan features a 30-year term with full-term amortization at 70% loan-to-value.
Built in 1964, the property is situated on a 0.30-acre parcel at 1534 Shenandoah St. in Los Angeles' Pico-Robertson neighborhood. The 15,326-rentable-square-foot apartment community consists of 20 units, including 11 one-bedroom, one-bath units, five two-bedroom, two-bath units, three one-bedroom, one-bath accessory dwelling units and one studio accessory dwelling unit. Located near Century City, Santa Monica and downtown Culver City, the property provides residents with convenient access to major employment centers, shopping, dining and entertainment throughout the Westside.
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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.
