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.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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