Marcus & Millichap Inc.
06/29/2026 | Press release | Distributed by Public on 06/29/2026 13:47
Marcus & Millichap Brokers $15.9 Million San Fernando Valley Multifamily Sale
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Marcus & Millichap Brokers $15.9 Million San Fernando Valley Multifamily Sale
June 29, 2026
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LOS ANGELES, June 29, 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 11925 Kling St., a 48-condominium property in the Valley Village neighborhood of Los Angeles, California. The condominiums sold for an average price of $331,250 each.
Tony Azzi and Rabbie Banafsheha of the Azzi Group at Marcus & Millichap in Los Angeles represented the seller, MLT VII LLC. Azzi, Banafsheha, Arteen Zahiri and Ian Habbestad of Marcus & Millichap procured the buyer, a funding investment corporation.
"Valley Village is one of the most sought-after residential neighborhoods in the San Fernando Valley, where average household income has grown by 45 percent since 2000, and the median price of a single-family home is $755,000," said Azzi. "The property's 48 individually parceled units give the buyer maximum flexibility for multiple exit strategies." Banafsheha said, "The winning bidder happened to be the developer who built the property in 2012."
11925 Kling St. is close to U.S. Highway 101/The Ventura Freeway, State Route 170/The Hollywood Freeway and the LA Metro's North Hollywood/Burbank rapid transit station. Studio City, North Hollywood, Laurel Canyon, Universal Studios, Ventura Boulevard, Encino and the NoHo Arts District are within proximity. The gated-entry building's amenities include a gym and subterranean parking. All units include balconies, washers and dryers.
Tony Azzi and Rabbie Banafsheha of the Azzi Group at Marcus & Millichap in Los Angeles represented the seller, MLT VII LLC. Azzi, Banafsheha, Arteen Zahiri and Ian Habbestad of Marcus & Millichap procured the buyer, a funding investment corporation.
"Valley Village is one of the most sought-after residential neighborhoods in the San Fernando Valley, where average household income has grown by 45 percent since 2000, and the median price of a single-family home is $755,000," said Azzi. "The property's 48 individually parceled units give the buyer maximum flexibility for multiple exit strategies." Banafsheha said, "The winning bidder happened to be the developer who built the property in 2012."
11925 Kling St. is close to U.S. Highway 101/The Ventura Freeway, State Route 170/The Hollywood Freeway and the LA Metro's North Hollywood/Burbank rapid transit station. Studio City, North Hollywood, Laurel Canyon, Universal Studios, Ventura Boulevard, Encino and the NoHo Arts District are within proximity. The gated-entry building's amenities include a gym and subterranean parking. All units include balconies, washers and dryers.
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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 https://www.MarcusMillichap.com.
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