Units: 36 · Sale price: $11,795,000 · Price per unit: $327,638 · Closed: December 2018
A 36-unit larger multifamily property at 2130 Fair Park Ave in Eagle Rock, sold December 2018 for $11,795,000 — approximately $327,638 per unit.
2018 LA multifamily was at or near cyclical peak pricing. Institutional capital remained active across asset classes. Transaction volume was high.
Eagle Rock is eastern LA submarket, LA City, predominantly pre-1978 RSO inventory.
Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.
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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