3200 Cheviot Vista Pl, Palms — 24-Unit Multifamily, $6.3M (Oct 2016)

Updated April 28, 2026

Units: 24 · Sale price: $6,325,000 · Price per unit: $263,541 · Closed: October 2016

A 24-unit mid-size multifamily property at 3200 Cheviot Vista Pl in Palms, sold October 2016 for $6,325,000 — approximately $263,541 per unit.

2016 was mid-cycle for LA multifamily. Pricing had firmed meaningfully from post-2008 lows. Strong bid across stabilized inventory.

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.

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 Palms record, this is the 4th largest of the 13 Palms apartment buildings Michael Sterman has closed.

At $263,542 a unit it sits below the Palms median of $296,875 — which is what size does to a per-unit number. This building is larger than the median Palms closing at 18 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.

Other Palms closings the same year: 1946-1954 South Bedford St (32 units, $9,500,000), 2020 Preuss Rd (20 units, $6,025,000).

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 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

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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.