Units: 96 · Sale price: $8,850,000 · Price per unit: $92,187 · Closed: June 2015
A 96-unit larger multifamily property at 744 Beacon Ave in Los Angeles, sold June 2015 for $8,850,000 — approximately $92,187 per unit.
By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of submarkets.
Core LA metropolitan area multifamily — specific submarket varies; common LA City RSO regulatory profile on pre-1978 inventory.
Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.
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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