Units: 12 · Sale price: $3,800,000 · Price per unit: $316,666 · Closed: February 2025
A 12-unit mid-size multifamily property at 4915 E Ocean Blvd in Long Beach, sold February 2025 for $3,800,000 — approximately $316,666 per unit.
2025 LA multifamily transaction volume hit $6.5 to $7.9 billion across 557 deals. Institutional buyers returned in force; cap rates stabilized in most submarkets.
Long Beach has its own rent stabilization regime separate from LA City and LA County.
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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