Units: 27 · Sale price: $10,000,000 · Price per unit: $370,370 · Closed: date unverified
A 27-unit mid-size multifamily property at 1117 6th St in Santa Monica, sold date unverified for $10,000,000 — approximately $370,370 per unit.
Santa Monica operates under its own Rent Control Board distinct from LA City RSO. Westside premium pricing with tight, stable regulatory overhead.
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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