Updated April 28, 2026
Units: 96 · Sale price: $8,850,000 · Price per unit: $92,187 · Closed: June 2015
A 96-unit larger multifamily property at 744 Beacon Ave in Koreatown, sold June 2015 for $8,850,000 — approximately $92,187 per unit.
By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of submarkets.
Koreatown is one of the highest-density multifamily submarkets in LA, overwhelmingly pre-1978 and subject to LA City RSO. Buyer pool includes institutional value-add, 1031 exchangers, and multi-generational family offices.
Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.
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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