301 Ashland Ave, Santa Monica — 9-Unit Multifamily, $7.1M (Feb 2022)
Updated April 28, 2026
Units: 9 · Sale price: $7,100,000 · Price per unit: $788,888 · Closed: February 2022
A 9-unit small multifamily property at 301 Ashland Ave in Santa Monica, sold February 2022 for $7,100,000 — approximately $788,888 per unit.
2022 LA multifamily held at peak pricing through mid-year, then began the rate-driven repricing that would define 2023.
Santa Monica operates under its own Rent Control Board distinct from LA City RSO. Westside premium pricing with tight, stable regulatory overhead.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
Set against the rest of the Santa Monica record, this is the 6th largest of the 8 Santa Monica apartment buildings Michael Sterman has closed.
At $788,889 a unit it sits above the Santa Monica median of $616,667, which is the ordinary pattern for a building of this size: at 9 units it is smaller than the median Santa Monica closing at 10, and smaller buildings carry higher per-door pricing.
Other Santa Monica closings the same year: 1323 14th St (11 units, $5,900,000).
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Santa Monica
- Santa Monica: 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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