350 S Reno St, Koreatown — 36-Unit Multifamily, $15.2M (Feb 2018)

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.

Set against the rest of the Koreatown record, this is the 2nd largest of the 21 Koreatown apartment buildings Michael Sterman has closed.

At $422,639 a unit it sits 166% above the Koreatown median of $158,958. 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 Koreatown closings the same year: 514 S Gramercy Pl (24 units, $6,100,000), 532 S Gramercy Pl (24 units, $5,600,000), 934 Arapahoe St (13 units, $2,175,000).

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 Koreatown
• Koreatown: 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.