Marcus & Millichap (NYSE: MMI) announced the sale of The Marq Apartments, 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. The 13,674-square-foot property sits on a 0.26-acre parcel at 117 S. Avenue 64 and consists of 16 one-bedroom, one-bath units and eight two-bedroom, one-bath units, with gated ground-level parking.
The Neema Group in Marcus & Millichap's Los Angeles office had the exclusive listing on behalf of the seller, Marq Apartments LLC, and procured the buyer, Capstone Equities LLC. Neema Ahadian, senior managing director investments, said the process was competitive and focused on finding a buyer who could perform and keep the transaction moving, ultimately identifying a qualified 1031 exchange buyer. Jeffrey Estrada, associate director investments, noted the property generated seven competitive offers and that Highland Park continues to draw strong demand from investors looking for newer-vintage, non-rent-controlled assets.
The sale reflects sustained investor interest in Northeast Los Angeles multifamily product, particularly assets without rent-control constraints. The property's location near York Boulevard and North Figueroa Street provides access to Downtown Los Angeles, Pasadena, Glendale, and other Northeast Los Angeles neighborhoods. As context, Marcus & Millichap closed 8,818 transactions with a sales volume of $50.8 billion in 2025, and had 1,808 investment sales and financing professionals in more than 80 offices at year end.
What remains unknown from the single source is the transaction's closing date, the seller's holding period, the property's occupancy or rent roll, and the specific due diligence challenges referenced by Ahadian. The source also does not disclose the buyer's financing structure beyond the 1031 exchange qualification or how the final price compared with initial guidance.