Units: 48 · Sale price: $6,335,000 · Price per unit: $131,979 · Closed: June 2016
A 48-unit larger multifamily property at 1230 N Berendo St in Los Angeles, sold June 2016 for $6,335,000 — approximately $131,979 per unit.
2016 was mid-cycle for LA multifamily. Pricing had firmed meaningfully from post-2008 lows. Strong bid across stabilized inventory.
Core LA metropolitan area multifamily — specific submarket varies; common LA City RSO regulatory profile on pre-1978 inventory.
Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
This building has appeared in the archive 2 times. See the full transaction history for 1230 N Berendo St, Los Angeles.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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