422 S Arnaz Dr, Fairfax — 7-Unit Multifamily, $2.7M (Jan 2017)
Updated April 28, 2026
Units: 7 · Sale price: $2,660,000 · Price per unit: $380,000 · Closed: January 2017
A 7-unit small multifamily property at 422 S Arnaz Dr in Fairfax, sold January 2017 for $2,660,000 — approximately $380,000 per unit.
2017 LA multifamily pricing approached cycle peaks. Buyer discipline was tightening on value-add deals even as top-line pricing continued to advance.
Multifamily property in the Sterman Multifamily Group transaction archive.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
Set against the rest of the Fairfax record, this is the 2nd largest of the 5 Fairfax apartment buildings Michael Sterman has closed.
At $380,000 a unit it sits below the Fairfax median of $425,000 — which is what size does to a per-unit number. This building is larger than the median Fairfax closing at 4 units, and per-door pricing falls as unit count rises almost everywhere in Los Angeles. A citywide average per unit is not information; the comparable set has to match the building's size.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Fairfax
- 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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