Units: 24 · Sale price: $8,526,000 · Price per unit: $355,250 · Closed: November 2015
A 24-unit mid-size multifamily property at 1522 N Vista in Hollywood, sold November 2015 for $8,526,000 — approximately $355,250 per unit.
By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of submarkets.
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.
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.
Thinking about selling? Get a no-obligation evaluation from a broker with $1.41 billion across 254 closed LA multifamily transactions.
Request Free Evaluation →