Units: 15 · Sale price: $7,725,000 · Price per unit: $515,000 · Closed: September 2021
A 15-unit mid-size multifamily property at 4320 Centinela Ave in West Los Angeles, sold September 2021 for $7,725,000 — approximately $515,000 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.
West LA is a core institutional hold for LA multifamily. Mixed building ages — pre-1978 RSO alongside post-1995 Costa-Hawkins exempt inventory.
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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