Marcus & Millichap Closes Two Westside Los Angeles Multifamily Sales at Record Value

LOS ANGELES--(BUSINESS WIRE)--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 two multifamily properties totaling 61 units in the Brentwood neighborhood of Los Angeles, California for a combined value of $46.35 million.

“The two sales are among just five multifamily transactions completed in Brentwood in 2026, establishing a new benchmark for price per unit while delivering an exceptional net outcome through favorable deal structure,” said Rabbie Banafsheha of the Azzi Group of Marcus & Millichap. “These are truly generational assets that come to market only once in a lifetime.” Banafsheha and Tony Azzi of the Azzi Group of Marcus & Millichap exclusively represented the seller.

The properties are 11911 Mayfield Ave., which has 31 units and a nonconforming studio, and 29-unit 11860 Kiowa Ave. Brentwood Village, Montana Avenue, and San Vicente Boulevard are within walking distance and the Brentwood Country Club, The Getty Center, and Brentwood Country Mart are nearby.

“Brentwood remains one of the most sought-after, and supply-constrained multifamily markets in Los Angeles,” said Azzi. “Through targeted execution, we generated meaningful competitive tension and delivered a result that exceeded our client’s expectations on both value and terms.”

“The Los Angeles multifamily market in 2026 remains highly selective, with elevated financing costs and disciplined underwriting shaping transaction activity,” said Tony Solomon, senior managing director in Marcus & Millichap’s Los Angeles office. “While overall volume has recovered, most trades have been concentrated in higher-supply submarkets where pricing remains under pressure. Brentwood stands apart as a high-barrier, supply-constrained market with limited new development, low vacancy, and strong long-term rental demand.”

To complete these transactions, the Azzi Group of Marcus & Millichap generated more than 10 offers, secured contracts in under 20 days and closed in less than 60 days.

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. Marcus & Millichap closed 8,818 transactions with a sales volume of $50.8 billion in 2025. The company had 1,808 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.