Units: 7 · Sale price: $2,700,000 · Price per unit: $385,714 · Closed: October 2020
A 7-unit small multifamily property at 3701 Westwood Blvd in Palms, sold October 2020 for $2,700,000 — approximately $385,714 per unit.
2020 LA multifamily absorbed a Q2 COVID shock and recovered through H2. Pricing held for stabilized inventory; transaction volume returned by year-end.
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.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
This building has appeared in the archive 2 times. See the full transaction history for 3701 Westwood Blvd, Palms.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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