Units: 7 · Sale price: $1,700,000 · Price per unit: $242,857 · Closed: November 2024
A 7-unit small multifamily property at 648 S Dunsmuir Ave in Los Angeles, sold November 2024 for $1,700,000 — approximately $242,857 per unit.
2024 LA multifamily began the recovery — transaction volume rebuilt toward $6.9B, institutional capital returned to active bidding, pricing stabilized.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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