Institutional Property Advisors Brokers $28M Multifamily Sale and Arranges Financing for Park Encino in Los Angeles
LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced May 8, 2026, the $28 million sale and acquisition financing of Park Encino, a 52-unit multifamily property located at 16555 Ventura Blvd in the Encino neighborhood of Los Angeles. The transaction equates to $538,462 per unit and represents the first core-plus, 50-plus unit multifamily sale in Encino since 2017.
Deal Details: Park Encino Multifamily Sale
IPA executive managing director investments Kevin Green, along with colleagues Joseph Grabiec and Gregory Harris, represented the seller and procured the buyer, Universe Holdings Development. Acquisition financing was arranged by Brian Eisendrath, Cameron Chalfant, and Patrick Barker of IPA Capital Markets.
"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 Green. "This transaction represents the first core-plus, 50-plus unit multifamily sale in Encino since 2017."
The loan amount and specific financing terms were not disclosed.
Encino Submarket Fundamentals
Brokers cited strong submarket conditions as a key driver of investment activity in the area. "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."
The absence of new institutional-scale multifamily supply since 2016 — despite sustained occupancy above 97% — and single-family home prices exceeding $2 million were cited by brokers as indicators of the supply-demand dynamics characterizing the Encino submarket.
Property Overview: Park Encino
Completed in 2014, Park Encino is a gated multifamily community featuring a central courtyard, clubhouse, fitness center, patio, and barbecue grill. The property's unit mix consists of two- and three-bedroom apartments averaging 1,421 square feet. Interior finishes include in-unit washers and dryers, Shaker-style cabinetry, and walk-in closets.
The property is situated within walking distance of Ventura Boulevard and benefits from proximity to U.S. Highway 101, Interstate 405, and Route 27, providing residents with access to 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.