456 S Cochran Ave, Hancock Park — 32-Unit Multifamily, $6M (Jul 2025)

Updated April 28, 2026

Units: 32 · Sale price: $6,000,000 · Price per unit: $187,500 · Closed: July 2025

A 32-unit larger multifamily property at 456 S Cochran Ave in Hancock Park, sold July 2025 for $6,000,000 — approximately $187,500 per unit.

2025 LA multifamily transaction volume hit $6.5 to $7.9 billion across 557 deals. Institutional buyers returned in force; pricing stabilized in most submarkets.

Multifamily property in the Sterman Multifamily Group transaction archive.

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 Hancock Park record, this is the 2nd largest of the 6 Hancock Park apartment buildings Michael Sterman has closed.

At $187,500 a unit it sits below the Hancock Park median of $230,519 — which is what size does to a per-unit number. This building is larger than the median Hancock Park closing at 22 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.

Other Hancock Park closings the same year: 632 S Cloverdale Ave (22 units, $4,625,000), 638 S Cloverdale Ave (22 units, $4,800,000).

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 Hancock Park
• 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.