Updated April 28, 2026
Units: 18 · Sale price: $4,488,888 · Price per unit: $249,382 · Closed: July 2026
A 18-unit mid-size multifamily property at 130-136 S Michigan Ave in Pasadena, sold July 2026 for $4,488,888 — approximately $249,382 per unit.
2026 opened with transaction volume on pace to exceed $7 billion and active institutional bidding across submarkets. The December 2025 RSO rewrite was beginning to reprice pre-1978 LA City inventory through the year.
Pasadena multifamily operates under its own local ordinance distinct from LA City RSO.
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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