Units: 16 · Sale price: $9,350,000 · Price per unit: $584,375 · Closed: August 2016
A 16-unit mid-size multifamily property at 2110 S Bentley Ave in West Los Angeles, sold August 2016 for $9,350,000 — approximately $584,375 per unit.
2016 was mid-cycle for LA multifamily. Cap rates had compressed meaningfully from post-2008 highs. Pricing was strong across stabilized inventory.
West LA is a core institutional hold for LA multifamily. Mixed building ages — pre-1978 RSO alongside post-1995 Costa-Hawkins exempt inventory.
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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