1448 Stearns Drive, Los Angeles

1448 Stearns Drive Los Angeles CA 90035, 8-unit multifamily building exterior, Pico-Robertson

The market pushed $1.6M for two months. We closed at $1,800,000.

When the family inherited this 8-unit Pico-Robertson building after their mother's passing, they also inherited something harder: a market that undervalued everything she had built. Every buyer came in near $1,600,000, citing rent control and below-market rents. We refused to accept that narrative. Keep reading to see how holding firm delivered $200,000 more than the market's best offer.

01

A Mother's
Life's Work

This 8-unit building in Pico-Robertson was not just an asset. It was the legacy their mother had spent a lifetime building. After her passing, the family needed an advocate who understood both the emotional weight and the real estate strategy required to protect what she had left behind.

1448 Stearns Drive Los Angeles 8-unit multifamily building Pico-Robertson
02

What the
Market Said

Over two months, multiple offers arrived, nearly all pointing to $1,600,000. Buyers and buyer's agents cited Los Angeles rent control and rents well below market as reasons the property was worth less. It was a consistent, coordinated narrative, and one we declined to accept.

03

What the Property
Actually Said

Eight underground parking spaces, one per unit, a rare feature in this submarket. Seismic retrofit already completed. A desirable unit mix: one studio, four one-bedrooms, three two-bedrooms. Strong walkability to Pico Boulevard and meaningful rental upside in one of LA's most stable Westside submarkets.

04

Holding
the Line

We refused to let the market's narrative define this property's value. We continued marketing the asset on its real strengths and waited for a buyer who would see what the building was genuinely worth over the long term.

1448 Stearns Drive Los Angeles interior unit
1448 Stearns Drive Los Angeles building exterior detail
05

$1,800,000
Closed

The right buyer came. The property closed at $1,800,000 at a 4.92% cap rate on current NOI, $200,000 above where the market had tried to place it. Representing both buyer and seller, we ensured the transaction closed cleanly. For the family, it meant honoring their mother's legacy with the full value she had built.

Navigating an inherited property in Los Angeles? See how we can help →

1448 Stearns Drive Los Angeles, inherited 8-unit multifamily trust property, Pico-Robertson

The Challenge

An 8-unit multifamily building in Pico-Robertson, inherited after the family's mother passed away. Every buyer in the market pointed to Los Angeles rent control and rents well below market as justification for a price near $1,600,000. The family needed a commercial real estate specialist willing to hold their position and advocate for the full value of the asset.

The Solution

We refused to accept the market's version of this property's value. Instead, we focused on what made 1448 Stearns Drive genuinely valuable: eight underground parking spaces, a completed seismic retrofit, a desirable unit mix, and a location with real rental upside in one of LA's most stable Westside submarkets.

After two months of patient, disciplined marketing, we secured a buyer who recognized the long-term value. The property closed at $1,800,000 at a 4.92% cap rate, $200,000 above where buyers had tried to set the price. Representing both buyer and seller, we ensured the transaction closed cleanly for both parties.

Managing an inherited multifamily or navigating a probate real estate matter in Los Angeles? Our specialist team advocates for the full value of the asset.

Commercial Real Estate
1448 Stearns Drive Los Angeles, 8-unit Pico-Robertson multifamily building represented by Aragone & Associates

1448 Stearns Drive, Los Angeles

Pico-Robertson  ·  West Los Angeles, CA 90035  ·  Closed June 2026

Two months of pressure to accept $1,600,000. A family legacy at stake. We held the line and closed at $1,800,000 at a 4.92% cap rate, $200,000 above the market's best attempt, in one of Westside LA's most stable multifamily submarkets.

$1,800,000
Sold Price
4.92%
Cap Rate
8
Units
+$200K
Above Market Pressure
8
Underground Parking Spaces
Dual
Representation
See More Results Like This
1448 Stearns Drive Los Angeles multifamily building facade Pico-Robertson
1448 Stearns Drive Los Angeles building entrance West Los Angeles
1448 Stearns Drive Pico-Robertson Los Angeles street view
1448 Stearns Drive Los Angeles 8-unit multifamily building detail
1448 Stearns Drive Los Angeles interior unit living area
1448 Stearns Drive Los Angeles building exterior side view
1448 Stearns Drive Los Angeles unit interior Pico-Robertson
1448 Stearns Drive Los Angeles unit interior view
1448 Stearns Drive Los Angeles kitchen interior
1448 Stearns Drive Los Angeles bedroom interior
1448 Stearns Drive Los Angeles underground parking spaces, one per unit
1448 Stearns Drive Los Angeles multifamily building rear view
FAQs

Common Questions, Answered

Common questions about selling an inherited multifamily in Los Angeles

Does LA rent control reduce the value of an inherited multifamily building?
Rent control is a real factor, but it is only one part of a multifamily property's value. For 1448 Stearns Drive, buyers used below-market rents as justification for offers near $1,600,000. By focusing on the property's genuine strengths: eight underground parking spaces, a completed seismic retrofit, a desirable unit mix, and strong Westside location, we secured a closing at $1,800,000, a 4.92% cap rate on current NOI and $200,000 above where the market had tried to push it.
Should I sell an inherited multifamily in Los Angeles as-is or wait for higher rents?
It depends on your goals and timeline. Holding for higher rents can improve the cap rate and future sale price, but it also means continuing to manage the property through LA's regulatory environment. For families navigating probate or trust administration, a well-positioned sale often makes more sense than an extended hold. Aragone & Associates can evaluate your specific situation and help you determine which path maximizes the outcome for the family.
What is a typical cap rate for an 8-unit building in Pico-Robertson, West Los Angeles?
Cap rates in Westside Los Angeles submarkets like Pico-Robertson typically range from 4% to 5.5% for stabilized multifamily properties, depending on unit mix, parking, condition, and rent levels. For 1448 Stearns Drive, the property closed at a 4.92% cap rate on current NOI, consistent with Westside market conditions and reflective of the property's long-term rental upside and strong physical characteristics.
Can the same agent represent both buyer and seller in a Los Angeles probate or trust sale?
Yes, dual representation, known as dual agency, is legal in California with full written disclosure and consent from both parties. In the case of 1448 Stearns Drive, we represented both the seller family and the buyer. Dual representation requires a higher standard of transparency and neutrality, and when done properly it can simplify the transaction and reduce friction for both sides. We disclosed and managed the dual agency relationship in full compliance with California law.
How long does it take to sell an inherited multifamily property in Los Angeles?
Timelines vary based on probate or trust administration requirements, property condition, and market conditions. For 1448 Stearns Drive, the marketing period extended two months while we held for the right buyer rather than accepting below-value offers. Probate sales may also require court confirmation, which can add several weeks. An experienced trust and estate specialist can guide you through the timeline and set realistic expectations from the start.
What should I look for in a real estate agent to sell an inherited apartment building in Los Angeles?
Look for an agent with direct experience in multifamily properties, probate and trust transactions, and the specific submarket where the building is located. General residential agents often lack the commercial valuation skills needed to counter rent control narratives or assess cap rates accurately. For inherited properties, you also want someone who understands the trust and probate process, communicates clearly with all heirs, and has the discipline to hold for the right buyer rather than pressure you into accepting the first offer. Aragone & Associates specializes in exactly this type of representation across the Los Angeles market.

Inherited a multifamily or investment property in Los Angeles?

Probate and trust real estate requires a different kind of representation, one that understands both the emotional weight and the market strategy needed to protect the family's outcome. We advocate for the full value of the asset and manage every detail of the process. Request a confidential evaluation with no obligation.