Units: 13 · Sale price: $3,300,000 · Price per unit: $253,846 · Closed: May 2013
A 13-unit mid-size multifamily property at 925 South Sherbourne Avenue in Los Angeles, sold May 2013 for $3,300,000 — approximately $253,846 per unit.
2013 was early in the sustained LA multifamily expansion that would run through 2022. Transaction activity was climbing; buyer pool was broadening quarter over quarter.
Core LA metropolitan area multifamily — specific submarket varies; common LA City RSO regulatory profile on pre-1978 inventory.
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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