5455 Lemon Grove Avenue, Hollywood — 16-Unit Multifamily, $3.2M (Feb 2013)

Updated April 28, 2026

Units: 16 · Sale price: $3,200,000 · Price per unit: $200,000 · Closed: February 2013

A 16-unit mid-size multifamily property at 5455 Lemon Grove Avenue in Hollywood, sold February 2013 for $3,200,000 — approximately $200,000 per unit.

2013 was early in the sustained LA multifamily expansion that would run through 2022. Transaction activity was climbing; buyer pool was broadening quarter over quarter.

Hollywood is one of the most-demanded mid-city LA submarkets, with deep institutional interest and a predominantly pre-1978 building mix that now falls under the revised LA City RSO.

Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.

Set against the rest of the Hollywood record, this is the 15th largest of the 24 Hollywood apartment buildings Michael Sterman has closed.

At $200,000 a unit it sits 29% below the Hollywood median of $282,589. 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.

Other Hollywood closings the same year: 1134 North Sycamore Avenue (75 units, $14,000,000).

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 Hollywood
• 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.