Units: 18 · Sale price: $2,700,000 · Price per unit: $150,000 · Closed: August 2014
A 18-unit mid-size multifamily property at 5567 Inglewood Blvd in Culver City, sold August 2014 for $2,700,000 — approximately $150,000 per unit.
2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, pricing compressing steadily in core submarkets.
Culver City has its own local regulatory profile. Stable occupancy and strong demographic demand have held pricing firm.
Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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