Units: 0 · Sale price: $7,325,000 · Price per unit: $0 · Closed: June 2022
A 0-unit small multifamily property at 1212 N Gower St in Hollywood, sold June 2022 for $7,325,000 — 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.
Hollywood is one of the most-demanded mid-city LA submarkets, with deep institutional interest and a predominantly pre-1978 building mix that now falls under the revised LA City RSO.
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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