Units: 11 · Sale price: $5,900,000 · Price per unit: $536,363 · Closed: May 2022
A 11-unit mid-size multifamily property at 1323 14th St in Santa Monica, sold May 2022 for $5,900,000 — approximately $536,363 per unit.
2022 LA multifamily held at peak pricing through mid-year, then began the rate-driven repricing that would define 2023.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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