Institutional Property Advisors Brokers $28M Sale and Arranges Financing for Los Angeles Multifamily Asset
May 08, 2026
LOS ANGELES, May 8, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale and financing of Park Encino, a 52-unit apartment property in the Encino neighborhood of Los Angeles, California. The property sold for $28 million, which equates to $538,462 per unit.
“Despite favorable demographics, strong submarket fundamentals, and increased demand for housing, no institutional-sized multifamily projects of 50-plus units have been delivered in Encino since 2016,” said Kevin Green, IPA executive managing director investments. “This transaction represents the first core-plus, 50-plus unit multifamily sale in Encino since 2017.” Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller, and procured the buyer, Universe Holdings Development. “Average multifamily occupancy in Encino exceeds 97% and over the last 10 years, median single-family home values in the neighborhood have increased by more than 75%,” said Grabiec. “As of Q2 2026, the average listing price of a single-family home in Encino was over $2 million.” Brian Eisendrath, Cameron Chalfant, and Patrick Barker of IPA Capital Markets arranged acquisition financing.
The property is within walking distance of Ventura Boulevard and its proximity to U.S. Highway 101, Interstate 405, and Route 27 puts residents within commuting distance of employment centers in Sherman Oaks, Warner Center, West Los Angeles, Beverly Hills, Hollywood, and Burbank. Nearby employers include Walt Disney Co., NBC Universal, Warner Brothers, and Medtronic.
Completed in 2014, Park Encino is a gated community with a central courtyard, clubhouse, fitness center, patio, and barbecue grill. The unit mix of two- and three-bedroom apartments averages 1,421 square feet. Interior finishes include washers and dryers, Shaker-style cabinetry, and walk-in closets.
“Despite favorable demographics, strong submarket fundamentals, and increased demand for housing, no institutional-sized multifamily projects of 50-plus units have been delivered in Encino since 2016,” said Kevin Green, IPA executive managing director investments. “This transaction represents the first core-plus, 50-plus unit multifamily sale in Encino since 2017.” Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller, and procured the buyer, Universe Holdings Development. “Average multifamily occupancy in Encino exceeds 97% and over the last 10 years, median single-family home values in the neighborhood have increased by more than 75%,” said Grabiec. “As of Q2 2026, the average listing price of a single-family home in Encino was over $2 million.” Brian Eisendrath, Cameron Chalfant, and Patrick Barker of IPA Capital Markets arranged acquisition financing.
The property is within walking distance of Ventura Boulevard and its proximity to U.S. Highway 101, Interstate 405, and Route 27 puts residents within commuting distance of employment centers in Sherman Oaks, Warner Center, West Los Angeles, Beverly Hills, Hollywood, and Burbank. Nearby employers include Walt Disney Co., NBC Universal, Warner Brothers, and Medtronic.
Completed in 2014, Park Encino is a gated community with a central courtyard, clubhouse, fitness center, patio, and barbecue grill. The unit mix of two- and three-bedroom apartments averages 1,421 square feet. Interior finishes include washers and dryers, Shaker-style cabinetry, and walk-in closets.
# # #
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.