Units: 20 · Sale price: $4,975,000 · Price per unit: $248,750 · Closed: May 2024
A 20-unit mid-size multifamily property at 10915-10921 Rose Ave in Palms, sold May 2024 for $4,975,000 — approximately $248,750 per unit.
2024 LA multifamily began the recovery — transaction volume rebuilt toward $6.9B, institutional capital returned to active bidding, cap rates stabilized.
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.
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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