Marcus & Millichap (NYSE: MMI) announced the sale of 1441 S. Beverly Glen Blvd., a 71-unit multifamily property in Los Angeles. The property sold for $14.2 million, or $200,000 per unit. The brokerage firm, which specializes in investment sales, financing, research, and advisory services, described the transaction as a rare opportunity to acquire an asset of this scale in a highly desirable West Los Angeles location.
Michael Sterman, senior managing director investments, noted that the building's high concentration of studio units presented some challenges, but its proximity to major employment and educational centers and other Westside amenities contributed to its appeal. Sterman, of the Sterman Multifamily Group in Marcus & Millichap's Encino office, held the exclusive listing on behalf of the seller, 1441 S Beverly Glen Investment, LLC, and procured the buyer. Built in 1953, the 41,859-square-foot property sits on 0.67 acres and includes 63 studios and eight one-bedroom, one-bath units. It is located in the Westwood submarket, providing access to UCLA, Century City, Beverly Hills, Brentwood, and other Westside destinations.
The sale reflects continued activity in Los Angeles multifamily investment sales, where vintage properties in established submarkets can still attract buyer interest despite unit-mix challenges. The $200,000-per-unit price point provides a supported data point for pricing on older, studio-heavy assets in West Los Angeles. Marcus & Millichap's broader platform context is also relevant: the firm closed 8,818 transactions with a sales volume of $50.8 billion in 2025 and had 1,808 investment sales and financing professionals in more than 80 offices at year end.
What remains unknown from the single source is the buyer's identity, the capitalization rate or other return metrics, the condition of the property, any planned renovations, and the financing structure. The announcement also does not disclose whether the sale price represented a premium or discount to asking price, or how the studio-heavy unit mix affected final pricing negotiations. Those details would be necessary to assess whether this transaction signals broader pricing trends for vintage multifamily assets in the Westwood submarket.