Mid-City.
ESTIMATED FROM 2024 RECORDED SALES · RECOMPUTED SEPTEMBER 2026
Mid-City's multifamily stock is mostly 1920s-1960s vintage, and much of it carries the below-market rents that make value-add underwriting work.
The retail corridors along Pico and Venice have been improving steadily, which strengthens the rent case for the blocks around them.
Recorded sales by year
| YEAR | SALES | MEDIAN EST. PRICE | MEDIAN EST. $/UNIT | MEDIAN EST. $/SF |
|---|---|---|---|---|
| 2020 | 127 | $1,359,997 | $349,999 | $329 |
| 2021 | 418 | $1,312,500 | $390,250 | $384 |
| 2022 | 389 | $1,334,998 | $416,666 | $413 |
| 2023 | 272 | $1,200,000 | $428,997 | $418 |
| 2024 | 363 | $1,225,000 | $406,875 | $407 |
~9,733 MULTIFAMILY BUILDINGS · 43,420 UNITS · 87% BUILT BEFORE 1979 (RSO-ERA)
NEWEST RECORDED SALE DEC 31, 2024 · RECOMPUTED SEPTEMBER 25, 2026
Coverage: the most recent recorded transfer per parcel over roughly the last five years, limited to sales that reset the Proposition 13 base year and to parcels assessed at $100,000 or more, so a building that traded more than once appears once, and earlier sales are not shown. Prices are estimated from the LA County assessor roll: the Prop-13 reassessment recorded at sale, deflated 2%/yr back to the sale date. They are estimates, not verified closing prices.
Latest Mid-City trades
Coverage: the most recent recorded transfer per parcel over roughly the last five years, limited to sales that reset the Proposition 13 base year and to parcels assessed at $100,000 or more, so a building that traded more than once appears once, and earlier sales are not shown. Prices are estimated from the LA County assessor roll: the Prop-13 reassessment recorded at sale, deflated 2%/yr back to the sale date. They are estimates, not verified closing prices.
What decides the price
Mid-City sits between several better-known submarkets and gets priced against all of them, usually wrongly. The stock is mixed, from small prewar income buildings to postwar walk-ups, and the RSO covers most of what is old enough to matter. Its central position is the real asset: it draws buyers who have been outbid in Culver City, priced out of the Westside and who will underwrite Mid-City on fundamentals rather than on a story. That makes it a market where a well-documented rent roll and a clean operating statement translate directly into price, because the buyer here is arithmetic-driven.
Who buys here
Value-add buyers pricing the gap between in-place and market rent, 1031 exchange money from Westside sales looking for basis relief, and local owners adding a second or third building within a few blocks of the first.
What is the average price per unit for Mid-City apartment buildings?
The estimated average is $494,465 per unit (about $445 per square foot). It is estimated from 363 sales recorded in 2024, the most recent year with enough recorded sales to average. These are not closing prices: each sale is priced from the LA County assessor's Prop 13 reassessment at the time of sale, deflated back to the sale date. A valuation of a specific building needs verified comps.
Who sells apartment buildings in Mid-City?
Shaya Lowenstein (Lyon Stahl Investment Real Estate, CA DRE #01942326) brokers multifamily and land in Mid-City and across Los Angeles. Free 48-hour valuations at https://www.shayarealestate.com/valuation.
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