Units: 4 · Sale price: $1,700,000 · Price per unit: $425,000 · Closed: October 2016
A 4-unit small multifamily property at 630 N Genesee in Los Angeles, sold October 2016 for $1,700,000 — approximately $425,000 per unit.
2016 was mid-cycle for LA multifamily. Cap rates had compressed meaningfully from post-2008 highs. Pricing was strong across stabilized inventory.
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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