906 Pacific Ave, Venice — 17-Unit Multifamily, $4M (Nov 2015)
Updated April 28, 2026
Units: 17 · Sale price: $3,950,000 · Price per unit: $232,352 · Closed: November 2015
A 17-unit mid-size multifamily property at 906 Pacific Ave in Venice, sold November 2015 for $3,950,000 — approximately $232,352 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.
Venice is Westside LA City multifamily — premium pricing, tight inventory, institutional and high-net-worth buyer pool.
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 Venice record, this is the largest of the 3 Venice apartment buildings Michael Sterman has closed.
At $232,353 a unit it sits below the Venice median of $425,000 — which is what size does to a per-unit number. This building is larger than the median Venice closing at 10 units, and per-door pricing falls as unit count rises almost everywhere in Los Angeles. A citywide average per unit is not information; the comparable set has to match the building's size.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Venice
- 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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