Units: 20 · Sale price: $1,735,000 · Price per unit: $86,750 · Closed: June 2014
A 20-unit mid-size multifamily property at 240 S Catalina St in Koreatown, sold June 2014 for $1,735,000 — approximately $86,750 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, cap rates compressing steadily in core 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.
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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