1323 14th St, Santa Monica — 11-Unit Multifamily, $5.9M (May 2022)
Updated April 28, 2026
Units: 11 · Sale price: $5,900,000 · Price per unit: $536,363 · Closed: May 2022
A 11-unit mid-size multifamily property at 1323 14th St in Santa Monica, sold May 2022 for $5,900,000 — approximately $536,363 per unit.
2022 LA multifamily held at peak pricing through mid-year, then began the rate-driven repricing that would define 2023.
Santa Monica operates under its own Rent Control Board distinct from LA City RSO. Westside premium pricing with tight, stable regulatory overhead.
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 Santa Monica record, this is the 4th largest of the 8 Santa Monica apartment buildings Michael Sterman has closed.
At $536,364 a unit it sits below the Santa Monica median of $616,667 — which is what size does to a per-unit number. This building is larger than the median Santa Monica closing at 10 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 Santa Monica closings the same year: 301 Ashland Ave (9 units, $7,100,000).
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Santa Monica
- Santa Monica: 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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