220 S Commonwealth Ave, Koreatown — 24-Unit Multifamily, $3.8M (Oct 2015)

Updated April 28, 2026

Units: 24 · Sale price: $3,815,000 · Price per unit: $158,958 · Closed: October 2015

A 24-unit mid-size multifamily property at 220 S Commonwealth Ave in Koreatown, sold October 2015 for $3,815,000 — approximately $158,958 per unit.

By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of 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.

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 Koreatown record, this is the 7th largest of the 21 Koreatown apartment buildings Michael Sterman has closed.

At $158,958 a unit it traded essentially on the Koreatown median of $158,958, across those 21 closings.

Other Koreatown closings the same year: 744 Beacon Ave (96 units, $8,850,000), 1121-1131 Washington Blvd (20 units, $1,675,000), 2960 James M Wood Blvd (12 units, $1,050,000).

This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.

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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

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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.