Units: 8 · Sale price: $4,025,000 · Price per unit: $503,125 · Closed: October 2017
A 8-unit small multifamily property at 866 Hilldale Ave in West Hollywood, sold October 2017 for $4,025,000 — approximately $503,125 per unit.
2017 LA multifamily pricing approached cycle peaks. Buyer discipline was tightening on value-add deals even as top-line pricing continued to advance.
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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