Hancock Park operates under some of the strictest residential architectural preservation oversight in LA. The HPOZ (Historic Preservation Overlay Zone) governs what can and cannot be done with the buildings here.
Selling an apartment building here? Hancock Park multifamily broker — Michael Sterman's record, comparables and process →
| Buildings closed | 6 |
| Units | 129 |
| Total volume | $37.9 million |
| Median price per unit | $231K |
| Range | $188K – $511K |
Median and range are drawn from the 6 Hancock Park buildings in the Sterman Transaction Index — Michael Sterman's own closed book, not a market-wide estimate. Per-unit pricing tracks building size as much as location, so compare against buildings of similar unit count rather than against the submarket average.
| Address | Units | Price | Closed |
|---|---|---|---|
| 638 S Cloverdale Ave | 22 | $4,800,000 | 2025-07 |
| 632 S Cloverdale Ave | 22 | $4,625,000 | 2025-07 |
| 456 S Cochran Ave | 32 | $6,000,000 | 2025-07 |
| 648 S Dunsmuir Ave | 7 | $1,700,000 | 2024-11 |
| 637 S Cloverdale Ave | 11 | $2,900,000 | 2021-10 |
| 649 S Ridgeley Dr | 35 | $17,875,000 | 2020-02 |
Buildings within Hancock Park's HPOZ are subject to design review on exterior alterations, visible additions, and any work that affects the streetscape. Buyers underwriting Hancock Park multifamily have to model preserva...
Read the full seller's guide →Living in townHancock Park is an LA City neighborhood west of Koreatown, known for preserved historic residential architecture and concentrated HPOZ (Historic Preservation Overlay Zone) oversight.
See the full neighborhood profile →Closings6 Sterman Multifamily Group closings in Hancock Park. See the full transaction record.
See all 6 Hancock Park closings →FAQCommon questions about selling multifamily in Hancock Park.
Read the full FAQ →Hancock Park's HPOZ oversight is the defining variable for investment. Multifamily inventory is limited and architecturally distinctive. Buyer pools are narrower but price-committed.
Michael Sterman will walk through comparables, buyer pool, and timing specific to your building — no obligation, no pitch.
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