Sherman Oaks Apartment Building Sales

Sherman Oaks Multifamily Market Overview

Sherman Oaks commands premium multifamily pricing along the Ventura Boulevard corridor, where affluent renters, strong schools, and tree-lined residential streets south of the boulevard create one of the Valley's most desirable apartment markets. Across 28 closed transactions totaling $101.2M in volume, the LAAA Team has documented an average price per unit of $333,000 across its 24 apartment sales, and an average cap rate of 4.06% across the 23 of those with a rate recorded.

The core Sherman Oaks apartment market lies south of Ventura Boulevard toward Moorpark Street in the 91403 and 91423 zip codes, where 1960s and 1970s courtyard buildings on quiet residential streets attract young professionals and families drawn to the Ventura Boulevard dining and retail scene. Properties within walking distance of the boulevard command the highest per-unit pricing, routinely exceeding $350,000 per unit for well-maintained buildings.

North of Ventura Boulevard, larger garden-style complexes along Burbank Boulevard and Riverside Drive offer somewhat lower per-unit pricing with larger unit sizes that appeal to families. The entire Sherman Oaks market benefits from its central Valley location, proximity to the 101 and 405 freeways, and a perception as an "upgrade" neighborhood for tenants relocating from Van Nuys and North Hollywood.

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