Units: 6 · Sale price: $2,662,500 · Price per unit: $443,750 · Closed: December 2021
A 6-unit small multifamily property at 923 Westbourne Dr in West Hollywood, sold December 2021 for $2,662,500 — approximately $443,750 per unit.
2021 was LA multifamily's cyclical peak. Cap rates compressed aggressively across submarkets. Transaction volume reached approximately 1,200 deals — the highest in over a decade.
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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