Units: 16 · Sale price: $7,000,000 · Price per unit: $437,500 · Closed: March 2022
A 16-unit mid-size multifamily property at 2030 Ivar Ave in Hollywood, sold March 2022 for $7,000,000 — approximately $437,500 per unit.
2022 LA multifamily held at peak pricing through mid-year, then began the rate-driven cap rate expansion that would define 2023.
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.
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