5229 Satsuma Avenue, North Hollywood — 6-Unit Multifamily, $740K (Oct 2012)

Updated April 28, 2026

Units: 6 · Sale price: $740,000 · Price per unit: $123,333 · Closed: October 2012

A 6-unit small multifamily property at 5229 Satsuma Avenue in North Hollywood, sold October 2012 for $740,000 — approximately $123,333 per unit.

In 2012, LA multifamily transaction volume was rebuilding from the post-2008 trough. Pricing was beginning to firm as institutional capital returned to the asset class.

North Hollywood has seen elevated new construction activity in recent years, creating a mixed age profile that buyers underwrite carefully by vintage.

Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.

Set against the rest of the North Hollywood record, this is the 9th largest of the 11 North Hollywood apartment buildings Michael Sterman has closed.

At $123,333 a unit it sits 55% below the North Hollywood median of $271,429. 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.

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 North Hollywood
• North Hollywood: 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.