Units: 7 · Sale price: $2,100,000 · Price per unit: $300,000 · Closed: December 2014
A 7-unit small multifamily property at 1355 Hilda Ave in Glendale, sold December 2014 for $2,100,000 — approximately $300,000 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, cap rates compressing steadily in core submarkets.
Glendale operates under its own local rental ordinance distinct from LA City RSO, producing a different buyer underwriting profile than comparable LA City buildings.
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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