1446 N Martel Ave, West Hollywood — 8-Unit Multifamily, $1.8M (Sep 2023)
Updated April 28, 2026
Units: 8 · Sale price: $1,845,000 · Price per unit: $230,625 · Closed: September 2023
A 8-unit small multifamily property at 1446 N Martel Ave in West Hollywood, sold September 2023 for $1,845,000 — approximately $230,625 per unit.
2023 was LA multifamily's transaction trough. Annual volume of $4.6B was a fifteen-year low as rates climbed and bid-ask spreads widened.
West Hollywood has its own rent stabilization ordinance distinct from LA City RSO, and a buyer pool that treats the submarket as a premium Westside-adjacent hold.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
Set against the rest of the West Hollywood record, this is the 9th largest of the 21 West Hollywood apartment buildings Michael Sterman has closed.
At $230,625 a unit it sits 35% below the West Hollywood median of $354,286. 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 West Hollywood closings the same year: 8410 Fountain Ave (4 units, $1,607,500).
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in West Hollywood
- West 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
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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