Units: 8 · Sale price: $3,675,000 · Price per unit: $459,375 · Closed: April 2018
A 8-unit small multifamily property at 851 N Hayworth Ave in West Hollywood, sold April 2018 for $3,675,000 — approximately $459,375 per unit.
2018 LA multifamily was at or near cyclical peak pricing. Institutional capital remained active across asset classes. Transaction volume was high.
West Hollywood has its own rent stabilization ordinance distinct from LA City RSO, and a buyer pool that treats the submarket as a premium Westside-adjacent hold.
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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