Units: 10 · Sale price: $3,075,000 · Price per unit: $307,500 · Closed: June 2018
A 10-unit mid-size multifamily property at 1047 N Stanley Ave in West Hollywood, sold June 2018 for $3,075,000 — approximately $307,500 per unit.
2018 LA multifamily was at or near cyclical peak pricing. Institutional capital remained active across asset classes. Transaction volume was high.
West Hollywood has its own rent stabilization ordinance distinct from LA City RSO, and a buyer pool that treats the submarket as a premium Westside-adjacent hold.
Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.
This transaction is part of the Sterman Multifamily Group closed archive — $1.41 billion across 254 closed transactions over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
$1.41 billion across 254 closed transactions.
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