Units: 26 · Sale price: $3,605,000 · Price per unit: $138,653 · Closed: February 2014
A 26-unit mid-size multifamily property at 811-817 Oxford Ave in Koreatown, sold February 2014 for $3,605,000 — approximately $138,653 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, pricing compressing steadily in core submarkets.
Koreatown is one of the highest-density multifamily submarkets in LA, overwhelmingly pre-1978 and subject to LA City RSO. Buyer pool includes institutional value-add, 1031 exchangers, and multi-generational family offices.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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