1121-1131 Washington Blvd, Koreatown — 20-Unit Multifamily, $1.7M (Jun 2015)
Updated April 28, 2026
Units: 20 · Sale price: $1,675,000 · Price per unit: $83,750 · Closed: June 2015
A 20-unit mid-size multifamily property at 1121-1131 Washington Blvd in Koreatown, sold June 2015 for $1,675,000 — approximately $83,750 per unit.
By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of submarkets.
Koreatown is one of the highest-density multifamily submarkets in LA, overwhelmingly pre-1978 and subject to LA City RSO. Buyer pool includes institutional value-add, 1031 exchangers, and multi-generational family offices.
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 Koreatown record, this is the 10th largest of the 21 Koreatown apartment buildings Michael Sterman has closed.
At $83,750 a unit it sits 47% below the Koreatown median of $158,958. Per-unit price tracks condition and the in-place rent roll as much as location, so the gap is a starting question rather than a verdict.
Other Koreatown closings the same year: 744 Beacon Ave (96 units, $8,850,000), 220 S Commonwealth Ave (24 units, $3,815,000), 2960 James M Wood Blvd (12 units, $1,050,000).
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Koreatown
- Koreatown: 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
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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