Units: 0 · Sale price: $2,050,000 · Price per unit: $0 · Closed: October 2021
A 0-unit small multifamily property at 1526 S Westgate Ave in West Los Angeles, sold October 2021 for $2,050,000 — approximately $0 per unit.
2021 was LA multifamily's cyclical peak. Cap rates compressed aggressively across submarkets. Transaction volume reached approximately 1,200 deals — the highest in over a decade.
West LA is a core institutional hold for LA multifamily. Mixed building ages — pre-1978 RSO alongside post-1995 Costa-Hawkins exempt inventory.
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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