Looking for a Beverlywood multifamily broker? Michael Sterman, Senior Managing Director Investments at Marcus & Millichap and founder of the Sterman Multifamily Group, has closed $1.46B across 259 Los Angeles apartment building transactions over 14 years — including 1 in Beverlywood alone. If you own an apartment building in Beverlywood and are weighing a sale, this is the team that prices it against Beverlywood's real buyer pool and rules — not a generic LA average.
Beverlywood is the rare Westside submarket where a private covenant, not the zoning code, decides what can be built — and that single fact shapes every apartment building trade in and around it. The tract itself is 1,354 single-family homes bound by the Beverlywood Homes Association's CC&Rs. The apartment inventory that sells as "Beverlywood" sits on its edges. If you own one of those buildings, that structure is working in your favor, and most owners do not price it that way.
Walter H. Leimert laid out Beverlywood in 1940 — the same developer who built Leimert Park across town — as a suburban tract inside city limits, organized around Circle Park with curvilinear streets and a deliberately narrow set of architectural styles. The Beverlywood Homes Association was incorporated with it, one of the first such associations in Southern California, and it still administers CC&Rs governing house size, style, color, design and landscaping. Membership and fees are not optional.
The practical consequence for an apartment owner is simple: inside those boundaries — Monte Mar Drive on the north, Robertson Boulevard on the east, Hillcrest Country Club and Anchor Avenue on the west, Beverlywood Street on the south — new multifamily is not going to appear. Roughly 70% of the housing is owner-occupied. The rental stock that trades here is on the perimeter and in the adjacent pockets: Crestview, La Cienega Heights and Reynier Village to the east, Castle Heights to the south, Cheviot Hills to the west, with Pico-Robertson, Mid-City, Culver City and Beverly Hills forming the wider ring.
Fixed supply next to demonstrated demand is the whole argument. A buyer underwriting a building here is buying into a submarket that cannot be diluted by new construction on the other side of the street, because the other side of the street is a covenant.
Beverlywood is City of Los Angeles. Pre-1978 buildings are covered by the Rent Stabilization Ordinance, including the rewrite that took effect July 1, 2026 — the allowable-increase formula moved to 90% of CPI with a 4% ceiling and a 1% floor, and the utility and dependent-occupant bumps were eliminated. LAHD published 3% for the current RSO year, the same figure as the prior year, so the near-term change is smaller than the headlines suggested. The structural change is the ceiling, and it matters across a hold period rather than in any one year.
Post-1995 construction is exempt under Costa-Hawkins. Measure ULA applies here, because this is LA City: currently $5,400,000 and $10,900,000, at 4% and 5.5% of the gross sale price. On a Westside building of any size that threshold is a live question, not a footnote, and it is a tax on the gross price rather than on your gain — a 1031 exchange does not avoid it.
The HOA's covenants do not govern apartment buildings, and no seller should be told they do. What the association does affect is the character of the blocks your tenants look out onto, which is a real part of why those tenants stay.
Value in Beverlywood 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 Beverlywood building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Request a Free Beverlywood Building Evaluation →A sample of Beverlywood apartment buildings Michael Sterman has closed. Each links to the full deal record.
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 259 transactions worth $1.46B. He knows how Beverlywood 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 Beverlywood building actually gets valued.
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