3720 Midvale Ave, Palms — 7-Unit Multifamily, $2.3M (Aug 2020)

Updated April 28, 2026

Units: 7 · Sale price: $2,300,000 · Price per unit: $328,571 · Closed: August 2020

A 7-unit small multifamily property at 3720 Midvale Ave in Palms, sold August 2020 for $2,300,000 — approximately $328,571 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.

Set against the rest of the Palms record, this is the 11th largest of the 13 Palms apartment buildings Michael Sterman has closed.

At $328,571 a unit it sits above the Palms median of $296,875, which is the ordinary pattern for a building of this size: at 7 units it is smaller than the median Palms closing at 18, and smaller buildings carry higher per-door pricing.

Other Palms closings the same year: 3701 Westwood Blvd (7 units, $2,800,000), 3701 Westwood Blvd (7 units, $2,700,000).

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.