3327 Livonia Ave, Palms — 18-Unit Multifamily, $7M (Mar 2019)
Updated April 28, 2026
Units: 18 · Sale price: $7,000,000 · Price per unit: $388,888 · Closed: March 2019
A 18-unit mid-size multifamily property at 3327 Livonia Ave in Palms, sold March 2019 for $7,000,000 — approximately $388,888 per unit.
2019 LA multifamily held at peak-cycle pricing. Late-cycle discipline was visible in buyer underwriting, particularly on assets requiring active management.
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 7th largest of the 13 Palms apartment buildings Michael Sterman has closed.
At $388,889 a unit it sits 31% above 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.
Other Palms closings the same year: 3750 Jasmine Ave (40 units, $10,300,000).
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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