Updated April 28, 2026
Units: 10 · Sale price: $2,325,000 · Price per unit: $232,500 · Closed: May 2026
A 10-unit mid-size multifamily property at 646 N Madison Ave in Silverlake, sold May 2026 for $2,325,000 — approximately $232,500 per unit.
2026 opened with transaction volume on pace to exceed $7 billion and active institutional bidding across submarkets. The December 2025 RSO rewrite was beginning to reprice pre-1978 LA City inventory through the year.
Silver Lake is central-eastern LA, LA City, predominantly pre-1978 RSO inventory with strong renter demand.
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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