3121 S Canfield Ave, Palms — 9-Unit Multifamily, $2.1M (Apr 2026)
Updated April 28, 2026
Units: 9 · Sale price: $2,135,000 · Price per unit: $237,222 · Closed: April 2026
A 9-unit small multifamily property at 3121 S Canfield Ave in Palms, sold April 2026 for $2,135,000 — approximately $237,222 per unit.
2026 opened with transaction volume on pace to exceed $7 billion and active institutional bidding across submarkets. The December 2025 RSO rewrite was beginning to reprice pre-1978 LA City inventory through the year.
Palms sits between LA's Westside and its mid-city core — Westside-adjacent demand with LA City RSO regulatory exposure on a predominantly pre-1978 inventory.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
Set against the rest of the Palms record, this is the 10th largest of the 13 Palms apartment buildings Michael Sterman has closed.
At $237,222 a unit it sits 20% below the Palms median of $296,875. 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.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Palms
- Palms: 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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