💸 What’s the Real Price of Playing in LA’s Small Multifamily Market?
Thinking of buying a 10–25 unit building in Los Angeles? You’re not alone. Small multifamily properties are still one of LA’s hottest tickets—and the latest sales tell a clear story.
We just ran the numbers from verified comps between July and September 2025, and here’s what you need to know before you write that offer.
📊 What Are Investors Actually Paying Right Now?
Across dozens of recent sales, here’s where the averages landed for 10–25 unit apartment buildings in LA:
- 💰 Average Price Per Unit: $176,332
- 📈 Average Cap Rate: 5.82%
- 📊 Average GRM: 10.19
That’s a pretty balanced performance for investors focused on both cash flow and long-term appreciation.
🏢 A Few Standouts From the Streets
Let’s zoom in on a few real-world examples from the past few weeks:
- 3337 S Durango Ave (Cheviot Hills):
Sold for $2.5M — that’s $250,000 per unit with a cap rate of 5.71%.
A premium price, but you’re buying into a top-tier Westside neighborhood. - 606 W Vernon Ave (Vermont Harbor):
20 units went for just under $2M—a steal at $99,800 per door.
No cap rate listed, but the area suggests strong upside. - 10424 S Broadway (Canndu/Avalon Gardens):
Sold at $119K per unit with a 7.39% cap rate.
One of the best cash-flowing deals on the board—perfect for value-add players.
🔍 What the Data Says About the LA Market
This isn’t just anecdotal. The broader trend shows that:
- Cap rates are holding steady in the 5.5%–6.5% range
- Price per unit varies wildly by neighborhood (from sub-$100K to over $250K)
- Lower GRMs (below 10) are still out there—especially in South LA and mid-city submarkets
In short? Deals still exist if you know where to look and are ready to move fast.
📍 Where Should You Be Looking?
If you’re chasing yield, look at:
- South LA
- Canndu/Avalon Gardens
- Vermont Harbor
If appreciation and tenant quality are your game:
- West LA
- Mar Vista
- Cheviot Hills
And if you want a balance of both, Koreatown is still the darling of mid-size investors.
🛠️ Final Thoughts for LA Multifamily Buyers
Whether you’re buying your first 16-unit in Crenshaw or trading into a 20-unit in Echo Park, the game is the same:
✅ Run the numbers
✅ Understand the submarket
✅ Move quick—before another 1031 buyer does
Want help analyzing deals like these?
I’m here to make sense of the data and help you find the right building, in the right place, at the right price.