Press Releases
Marcus & Millichap Arranges $6.2M Sale of 24-Unit Multifamily Property in Los Angeles
September 21, 2026
LOS ANGELES, Sept. 21, 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 117 S. Avenue 64, a 24-unit multifamily property in the Highland Park neighborhood of Los Angeles. The property sold for $6.2 million, or $258,958 per unit.
“This was a competitive process, and our focus was on finding the right buyer who could perform and keep the transaction moving,” said Neema Ahadian, senior managing director investments. “We were able to identify a qualified 1031 exchange buyer and work through several due diligence challenges along the way, ultimately keeping the deal on schedule and delivering a strong result for our client.”
Ahadian and Jeffrey Estrada of The Neema Group in Marcus & Millichap’s Los Angeles office had the exclusive listing to market the property on behalf of the seller, Marq Apartments LLC, and procured the buyer, Capstone Equities LLC.
The 13,674-square-foot property is situated on a 0.26-acre parcel at 117 S. Avenue 64 in Los Angeles. The 24-unit apartment community consists of 16 one-bedroom, one-bath units and eight two-bedroom, one-bath units and features gated ground-level parking.
“Highland Park continues to draw strong demand from investors looking for newer-vintage, non-rent-controlled assets, and that was reflected in the offer pool we generated here,” said Estrada, associate director investments. “With seven competitive offers on the table, our priority was qualifying buyers early so we could move quickly with a strong candidate and carry that momentum through to closing.”
Located near York Boulevard and North Figueroa Street, the property provides residents with access to Downtown Los Angeles, Pasadena, Glendale and other Northeast Los Angeles neighborhoods.
“This was a competitive process, and our focus was on finding the right buyer who could perform and keep the transaction moving,” said Neema Ahadian, senior managing director investments. “We were able to identify a qualified 1031 exchange buyer and work through several due diligence challenges along the way, ultimately keeping the deal on schedule and delivering a strong result for our client.”
Ahadian and Jeffrey Estrada of The Neema Group in Marcus & Millichap’s Los Angeles office had the exclusive listing to market the property on behalf of the seller, Marq Apartments LLC, and procured the buyer, Capstone Equities LLC.
The 13,674-square-foot property is situated on a 0.26-acre parcel at 117 S. Avenue 64 in Los Angeles. The 24-unit apartment community consists of 16 one-bedroom, one-bath units and eight two-bedroom, one-bath units and features gated ground-level parking.
“Highland Park continues to draw strong demand from investors looking for newer-vintage, non-rent-controlled assets, and that was reflected in the offer pool we generated here,” said Estrada, associate director investments. “With seven competitive offers on the table, our priority was qualifying buyers early so we could move quickly with a strong candidate and carry that momentum through to closing.”
Located near York Boulevard and North Figueroa Street, the property provides residents with access to Downtown Los Angeles, Pasadena, Glendale and other Northeast Los Angeles neighborhoods.
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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.
