632 S Cloverdale Ave, Hancock Park — 22-Unit Multifamily, $4.6M (Jul 2025)
Updated April 28, 2026
Units: 22 · Sale price: $4,625,000 · Price per unit: $210,227 · Closed: July 2025
A 22-unit mid-size multifamily property at 632 S Cloverdale Ave in Hancock Park, sold July 2025 for $4,625,000 — approximately $210,227 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.
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 Hancock Park record, this is the 3rd largest of the 6 Hancock Park apartment buildings Michael Sterman has closed.
At $210,227 a unit it sits 9% below the Hancock Park median of $230,519. 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 Hancock Park closings the same year: 456 S Cochran Ave (32 units, $6,000,000), 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.
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
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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