10751 Rose Ave, Palms — 118-Unit Multifamily, $31.7M (Dec 2022)

Updated April 28, 2026

Units: 118 · Sale price: $31,700,000 · Price per unit: $268,644 · Closed: December 2022

A 118-unit larger multifamily property at 10751 Rose Ave in Palms, sold December 2022 for $31,700,000 — approximately $268,644 per unit.

2022 LA multifamily held at peak pricing through mid-year, then began the rate-driven repricing that would define 2023.

Palms sits between LA's Westside and its mid-city core — Westside-adjacent demand with LA City RSO regulatory exposure on a predominantly pre-1978 inventory.

Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.

Set against the rest of the Palms record, this is the largest of the 13 Palms apartment buildings Michael Sterman has closed.

At $268,644 a unit it sits below the Palms median of $296,875 — which is what size does to a per-unit number. This building is larger than the median Palms closing at 18 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.

This address appears in the archive more than once: it also closed September 2022 at $10,800,000. Two verified prices on one building are worth more than any estimate.

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 Palms
• Palms: 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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This building has appeared in the archive 2 times. See the full transaction history for 10751 Rose Ave, Palms.

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