5237 Willowcrest Ave, North Hollywood — 5-Unit Multifamily, $2.5M (Oct 2016)

Updated April 28, 2026

Units: 5 · Sale price: $2,450,000 · Price per unit: $490,000 · Closed: October 2016

A 5-unit small multifamily property at 5237 Willowcrest Ave in North Hollywood, sold October 2016 for $2,450,000 — approximately $490,000 per unit.

2016 was mid-cycle for LA multifamily. Pricing had firmed meaningfully from post-2008 lows. Strong bid across stabilized inventory.

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 10th largest of the 11 North Hollywood apartment buildings Michael Sterman has closed.

At $490,000 a unit it sits above the North Hollywood median of $271,429, which is the ordinary pattern for a building of this size: at 5 units it is smaller than the median North Hollywood closing at 14, and smaller buildings carry higher per-door pricing.

Other North Hollywood closings the same year: 11840 Kittridge St (46 units, $8,575,000).

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 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.