Units: 16 · Sale price: $3,600,000 · Price per unit: $225,000 · Closed: January 2021
A 16-unit mid-size multifamily property at 311 S New Hampshire Ave in Koreatown, sold January 2021 for $3,600,000 — approximately $225,000 per unit.
2021 was LA multifamily's cyclical peak. Cap rates compressed aggressively across submarkets. Transaction volume reached approximately 1,200 deals — the highest in over a decade.
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.
Thinking about selling? Get a no-obligation evaluation from a broker with $1.41 billion across 254 closed LA multifamily transactions.
Request Free Evaluation →