Units: 7 · Sale price: $2,660,000 · Price per unit: $380,000 · Closed: January 2017
A 7-unit small multifamily property at 422 S Arnaz Dr in Los Angeles, sold January 2017 for $2,660,000 — approximately $380,000 per unit.
2017 LA multifamily pricing approached cycle peaks. Buyer discipline was tightening on value-add deals even as top-line pricing continued to advance.
Core LA metropolitan area multifamily — specific submarket varies; common LA City RSO regulatory profile on pre-1978 inventory.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
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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