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.
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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