240 S Catalina St, Koreatown — 20-Unit Multifamily, $1.7M (Jun 2014)
Updated April 28, 2026
Units: 20 · Sale price: $1,735,000 · Price per unit: $86,750 · Closed: June 2014
A 20-unit mid-size multifamily property at 240 S Catalina St in Koreatown, sold June 2014 for $1,735,000 — approximately $86,750 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, pricing compressing steadily in core 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 10th largest of the 21 Koreatown apartment buildings Michael Sterman has closed.
At $86,750 a unit it sits 45% below the Koreatown median of $158,958. 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 Koreatown closings the same year: 811-817 Oxford Ave (26 units, $3,605,000).
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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