Units: 16 · Sale price: $4,000,000 · Price per unit: $250,000 · Closed: August 2024
A 16-unit mid-size multifamily property at 2320 Glendale Blvd in Silverlake, sold August 2024 for $4,000,000 — approximately $250,000 per unit.
2024 LA multifamily began the recovery — transaction volume rebuilt toward $6.9B, institutional capital returned to active bidding, pricing stabilized.
Silver Lake is central-eastern LA, LA City, predominantly pre-1978 RSO inventory with strong renter demand.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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