2858 Leeward Avenue, Koreatown — 30-Unit Multifamily, $1.7M (Dec 2012)

Updated April 28, 2026

Units: 30 · Sale price: $1,739,000 · Price per unit: $57,966 · Closed: December 2012

A 30-unit larger multifamily property at 2858 Leeward Avenue in Koreatown, sold December 2012 for $1,739,000 — approximately $57,966 per unit.

In 2012, LA multifamily transaction volume was rebuilding from the post-2008 trough. Pricing was beginning to firm as institutional capital returned to the asset class.

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.

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 Koreatown record, this is the 4th largest of the 21 Koreatown apartment buildings Michael Sterman has closed.

At $57,967 a unit it sits below the Koreatown median of $158,958 — which is what size does to a per-unit number. This building is larger than the median Koreatown closing at 20 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.

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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.