Units: 0 · Sale price: $3,700,000 · Price per unit: $0 · Closed: December 2020
A 0-unit small multifamily property at 18667 Bear Valley Rd in Hesperia, sold December 2020 for $3,700,000 — approximately $0 per unit.
2020 LA multifamily absorbed a Q2 COVID shock and recovered through H2. Pricing held for stabilized inventory; transaction volume returned by year-end.
Hesperia is High Desert California multifamily, outside LA regulatory regimes entirely.
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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