Looking for a Beverly Hills multifamily broker? Michael Sterman, Senior Managing Director Investments at Marcus & Millichap and founder of the Sterman Multifamily Group, has closed $1.37B across 246 Los Angeles apartment building transactions over 14 years. If you own an apartment building in Beverly Hills and are weighing a sale, this is the team that prices it against Beverly Hills's real buyer pool and rules — not a generic LA average.
Beverly Hills does not have a rent stabilization ordinance. It has two of them, and which one governs a given unit changes that unit's income trajectory — and therefore your building's value. Most owners here know they are "rent controlled." Far fewer can tell you, unit by unit, whether they are under Chapter 5 or Chapter 6. A buyer's analyst will work it out during diligence. You want to have worked it out first.
The City of Beverly Hills regulates rents under two separate chapters of its Municipal Code, and the dividing line is unusual enough that it catches people out.
Chapter 5 covers units in buildings constructed before September 20, 1978 whose original monthly rent was $600 or less. Note that it is a two-part test — vintage *and* the original rent figure — not vintage alone, which is how most California ordinances work. The maximum allowable annual increase under Chapter 5 currently sits at 3.34%, most recently updated July 14, 2026. Unusually, that figure is revised monthly, so the applicable percentage is a moving target that has to be checked against the date of your notice rather than assumed from last year.
Chapter 6 covers essentially everything else that is rent-stabilized in the city. Its maximum allowable annual increase is currently 3.6%, set in June 2026 and revised annually each June.
In both cases the city requires the owner to register the new rent in its online registry within 30 days of executing a lease, a 30-day notice precedes any increase, and unused increases cannot be banked — skipping a year does not let you take a larger increase the next one.
Because a buyer is not purchasing your current rent roll. They are purchasing the lawful trajectory of that rent roll, and the two chapters produce different trajectories from identical starting rents. A building where most units fall under Chapter 5 carries a different growth model than one under Chapter 6, and the monthly-revision mechanic on Chapter 5 introduces a diligence question that a careless seller answers wrong in writing.
This is where Beverly Hills deals go sideways late. The rent roll is delivered, the buyer's analyst tests the unit-level chapter assignments and the registry filings, and something does not reconcile — a unit assumed to be Chapter 6 that meets the Chapter 5 test, or a registration that was not filed inside 30 days. Then the price moves in escrow, which is the worst possible time for it to move. Getting the chapter assignments and the registry record clean before we go to market is not administrative housekeeping; it is price protection.
Value in Beverly Hills turns on vintage, rent-control status, your in-place rents versus market, and which buyer pool fits your building — not a single neighborhood average. Michael underwrites your specific Beverly Hills building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Request a Free Beverly Hills Building Evaluation →Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 246 transactions worth $1.37B. He knows how Beverly Hills buildings are valued, who buys them, and what it takes to get a clean deal closed here. CA DRE License #01911703.
Michael sells across all of Los Angeles — see the citywide multifamily broker overview for the full closed record and median price per unit in every submarket, or read how much your LA apartment building is worth for how a Beverly Hills building actually gets valued.
Thinking about selling? Get a no-obligation evaluation on your building.
Request Free Evaluation →