Units: 4 · Sale price: $1,240,000 · Price per unit: $310,000 · Closed: November 2025
A 4-unit small multifamily property at 204 S Serrano Ave in Koreatown, sold November 2025 for $1,240,000 — approximately $310,000 per unit.
2025 LA multifamily transaction volume hit $6.5 to $7.9 billion across 557 deals. Institutional buyers returned in force; cap rates stabilized in most submarkets.
Koreatown is one of the highest-density multifamily submarkets in LA, overwhelmingly pre-1978 and subject to LA City RSO. Buyer pool includes institutional value-add, 1031 exchangers, and multi-generational family offices.
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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