934 Arapahoe St, Koreatown — 13-Unit Multifamily, $2.2M (Nov 2018)

Updated April 28, 2026

Units: 13 · Sale price: $2,175,000 · Price per unit: $167,307 · Closed: November 2018

A 13-unit mid-size multifamily property at 934 Arapahoe St in Koreatown, sold November 2018 for $2,175,000 — approximately $167,307 per unit.

2018 LA multifamily was at or near cyclical peak pricing. Institutional capital remained active across asset classes. Transaction volume was high.

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.

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 Koreatown record, this is the 13th largest of the 21 Koreatown apartment buildings Michael Sterman has closed.

At $167,308 a unit it sits above the Koreatown median of $158,958, which is the ordinary pattern for a building of this size: at 13 units it is smaller than the median Koreatown closing at 20, and smaller buildings carry higher per-door pricing.

Other Koreatown closings the same year: 350 S Reno St (36 units, $15,215,000), 514 S Gramercy Pl (24 units, $6,100,000), 532 S Gramercy Pl (24 units, $5,600,000).

This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.

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Related

• Selling Multifamily Property in Koreatown
• Koreatown: the neighborhood, its buildings and what they sell for
• 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

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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.