Updated April 28, 2026
Units: 42 · Sale price: $8,600,000 · Price per unit: $204,761 · Closed: August 2023
A 42-unit larger multifamily property at 1784 N Sycamore Ave in Hollywood, sold August 2023 for $8,600,000 — approximately $204,761 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.
Hollywood is one of the most-demanded mid-city LA submarkets, with deep institutional interest and a predominantly pre-1978 building mix that now falls under the revised LA City RSO.
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 Hollywood record, this is the 2nd largest of the 24 Hollywood apartment buildings Michael Sterman has closed.
At $204,762 a unit it sits below the Hollywood median of $282,589 — which is what size does to a per-unit number. This building is larger than the median Hollywood closing at 19 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 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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