204 S Serrano Ave, Koreatown — 4-Unit Multifamily, $1.2M (Nov 2025)
Updated April 28, 2026
Units: 4 · Sale price: $1,240,000 · Price per unit: $310,000 · Closed: November 2025
A 4-unit small multifamily property at 204 S Serrano Ave in Koreatown, sold November 2025 for $1,240,000 — approximately $310,000 per unit.
2025 LA multifamily transaction volume hit $6.5 to $7.9 billion across 557 deals. Institutional buyers returned in force; pricing stabilized in most 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.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
Set against the rest of the Koreatown record, this is the smallest of the 21 Koreatown apartment buildings Michael Sterman has closed.
At $310,000 a unit it sits above the Koreatown median of $158,958, which is the ordinary pattern for a building of this size: at 4 units it is smaller than the median Koreatown closing at 20, and smaller buildings carry higher per-door pricing.
Other Koreatown closings the same year: 944 S Park View St (10 units, $1,400,000).
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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