Units: 0 · Sale price: $10,800,000 · Price per unit: $0 · Closed: September 2022
A 0-unit small multifamily property at 10751 Rose Ave in Palms, sold September 2022 for $10,800,000 — approximately $0 per unit.
2022 LA multifamily held at peak pricing through mid-year, then began the rate-driven cap rate expansion that would define 2023.
Palms sits between LA's Westside and its mid-city core — Westside-adjacent demand with LA City RSO regulatory exposure on a predominantly pre-1978 inventory.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
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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