Updated April 28, 2026
Units: 36 · Sale price: $15,215,000 · Price per unit: $422,638 · Closed: February 2018
A 36-unit larger multifamily property at 350 S Reno St in Koreatown, sold February 2018 for $15,215,000 — approximately $422,638 per unit.
2018 LA multifamily was at or near cyclical peak pricing. Institutional capital remained active across asset classes. Transaction volume was high.
Koreatown is one of the highest-density multifamily submarkets in LA, overwhelmingly pre-1978 and subject to LA City RSO. Buyer pool includes institutional value-add, 1031 exchangers, and multi-generational family offices.
Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.
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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