1006-1008 N El Centro Ave, Hollywood — 29-Unit Multifamily, $4.6M (Apr 2018)

Updated April 28, 2026

Units: 29 · Sale price: $4,580,000 · Price per unit: $157,931 · Closed: April 2018

A 29-unit mid-size multifamily property at 1006-1008 N El Centro Ave in Hollywood, sold April 2018 for $4,580,000 — approximately $157,931 per unit.

2018 LA multifamily was at or near cyclical peak pricing. Institutional capital remained active across asset classes. Transaction volume was high.

Hollywood is one of the most-demanded mid-city LA submarkets, with deep institutional interest and a predominantly pre-1978 building mix that now falls under the revised LA City RSO.

Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.

Set against the rest of the Hollywood record, this is the 7th largest of the 24 Hollywood apartment buildings Michael Sterman has closed.

At $157,931 a unit it sits below the Hollywood median of $282,589 — which is what size does to a per-unit number. This building is larger than the median Hollywood closing at 19 units, and per-door pricing falls as unit count rises almost everywhere in Los Angeles. A citywide average per unit is not information; the comparable set has to match the building's size.

Other Hollywood closings the same year: 1756 N Gramercy Pl (18 units, $3,750,000), 1310 N Gardner St (16 units, $5,450,000).

This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.

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Related

• Selling Multifamily Property in Hollywood
• Hollywood: the neighborhood, its buildings and what they sell for
• How to Sell a Multifamily Property in Los Angeles
• Request a free evaluation of your building
• Verify this sale independently — search public records and coverage for this transaction yourself

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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.