See LA’s 2025 Top Multifamily Deals

Six of the 10 priciest multifamily deals in Los Angeles County were located in the City of L.A., meaning they were taxed extra via Measure ULA, which has slowed commercial trades but wasn’t enough to keep these parties from buying or selling.

The 10 deals combined total about $1.2 billion, and the six within the City of Los Angeles accounted for approximately $45 million in Measure ULA taxes, which come at a 5.5 percent rate on sales of more than $10.5 million.

This ranking is based on The Real Deal’s analysis of data via CBRE and Kidder Mathews through late-September and prior reporting. While there is still time for potential record-breakers, these are the deals that make the top 10 for 2025 by publication.

1. Kitt at Warner Center

Waterton purchased the apartment complex in Woodland Hills, a neighborhood on the edge of the Santa Monica Mountains in the San Fernando Valley, for about $180 million, or roughly $345,000 per apartment. The seller, AMLI Residential, developed the property at 21200 Kittridge Street around two decades ago. It is within the master-planned community Warner Center, where billionaire owner of the Los Angeles Rams Stanley Kroenke has proposed a $10 billion development. The city transfer tax came out to about $12 million.

Waterton recently announced it purchased another apartment community at 21021 Erwin Street in Woodland Hills, less than five minutes away from Kitt at Warner Center, but didn’t disclose price.

2. Ovelo

AEW Capital Management purchased the seven-story apartment complex in Hollywood for $159 million, or about $431,000 per apartment. The sellers were Cal-Coast Development and Rescore, a real estate investment trust managed by Encore Capital Management. They developed the project at 1331 North Cahuenga Boulevard. The city transfer tax, which comprises a base tax and a special tax via Measure ULA, came out to about $9.5 million.

3. Stella

Carmel Partners bought Stella, an apartment building in Marina del Rey, from Nuveen for $141 million, or about $578,000 an apartment, the priciest per unit deal on our ranking — and the priciest multifamily trade in Marina del Rey in more than a decade. Still, it’s 15 percent less than what Nuveen paid for the property at 13488 Maxella Avenue. The city transfer tax came out to roughly $8 million.

4. Chase Knolls

JRK Property Holdings purchased the apartment complex in Sherman Oaks, a neighborhood in the San Fernando Valley, for $129 million, or about $322,000 per apartment from Waterton (our ranking’s number one buyer). The sale of 13401 Riverside Drive was part of a more than $300 million deal that included a residential tower in Washington, D.C. The city transfer tax came out to about $7 million.

5. Highridge Apartments

The Bascom Group bought Highridge Apartments, an apartment complex, at 28125 Peacock Ridge Drive in the coastal municipality of Rancho Palos Verdes, from Essex Property Trust for $127 million, or $494,000 per unit.

6. Adeline

The Silicon Valley-based Sobrato Organization purchased the apartment building in Glendale, for $126 million, or $536,000 per unit, from Rockwood Capital (recently integrated operations into Harrison Street Asset Management) and Mill Creek Residential, which developed the five-story property in 2015.

7. Hills at Hacienda

Eagle Partners paid $107 million for a complex at 2401 Hacienda Boulevard in unincorporated Hacienda Height in eastern Los Angeles County. MG Properties was the seller and made about $306,000 per unit.

8. The Fifty Five Fifty

Grubb Properties and PCCP acquired a seven-story apartment building at 5550 Hollywood Boulevard in Hollywood for around $98 million, or $351,000 per unit, from Vanbarton Group. The deal was Grubb Properties’ first buy of an existing community in the market. The city transfer tax came out to around $6 million.

9. Eleve

Pacific Urban Investors purchased the downtown Glendale apartment building. The Marcus & Millichap Company paid $76 million for 200 East Broadway. The seller was Equity Residential. The deal came out to $365,000 an apartment for the property near billionaire Rick Caruso’s Americana at Brand. The prior purchase price was $70.5 million.

10. Fusion Encore

The Lighthouse Group bought the Hollywood apartment complex at 1714 North McCadden Place for $74 million, or $339,000 a unit, from New York Life Investments. The price was a 27 percent discount compared with the property’s prior trade. The deal was the second Hollywood multifamily buy in six months for the Lighthouse Group, which purchased an apartment building at 5750 Hollywood Boulevard for $54.5 million, though that one didn’t make the ranking. The city transfer tax came out to around $4 million.