Looking for a Hollywood multifamily broker? Michael Sterman, Senior Managing Director Investments at Marcus & Millichap and founder of the Sterman Multifamily Group, has closed $1.38B across 248 Los Angeles apartment building transactions over 14 years — including 25 in Hollywood alone. If you own an apartment building in Hollywood and are weighing a sale, this is the team that prices it against Hollywood's real buyer pool and rules — not a generic LA average.
Hollywood is dense, urban, and transit-proximate. Walk Score elevated, Metro red line throughout, proximity to employment corridors from Burbank to West LA. Tenant demand is structurally high, and so is the rent concession history that comes with heavy new supply in recent years. Vacancy in Class A has been elevated through 2024-2025; Class B and C have held firmer. Most Hollywood multifamily inventory is pre-1978 LA City RSO. A smaller share was built 1979-1994 (AB 1482 only) and a meaningful but minority share post-1995 (Costa-Hawkins exempt). That regime distribution matters now more than it ever has. Buyer pool is deep. Institutional value-add private equity has treated Hollywood as a top target for a decade — the combination of rent upside potential in pre-1978 inventory and high demographic quality creates the thesis that PE funds like most. Family offices and 1031 exchangers are also active.
Price per unit in Hollywood runs $300,000 to $425,000 as of Q1 2026. Stabilized inventory clusters in the middle of the range. Value-add with clean upside trades tighter. RSO-heavy inventory with deferred capital needs trades wider. Hollywood pricing has held remarkably stable through 2024-2025 despite the broader repricing pressure on pre-1978 inventory. The reason is buyer demand — institutional capital has absorbed most of the pressure that RSO-constrained fundamentals would otherwise have produced. That buffer exists in Hollywood in a way it does not exist in, say, Reseda.
Value in Hollywood 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 Hollywood building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Request a Free Hollywood Building Evaluation →Institutional and PE value-add remains the most aggressive buyer pool on deals under $20 million. Value-add thesis with physical renovation and rent capture is the dominant strategy. They pay close to asking when the story is clean.
1031 exchangers are active throughout the year, particularly on stabilized Class B and C. Less price-aggressive but more reliable at close.
Family offices acquire off-market in Hollywood more often than might be obvious. Several multi-generational families have treated Hollywood as a portfolio-building submarket for 30+ years.
A sample of Hollywood apartment buildings Michael Sterman has closed. Each links to the full deal record.
| Address | Units | Price | Closed |
|---|---|---|---|
| 5665 Franklin Ave | 5 | $1,025,000 | 2026-07 |
| 1820 Grace Ave | 10 | $1,775,000 | 2025-11 |
| 1301 N Orange Dr | 3 | $1,046,000 | 2025-06 |
| 1784 N Sycamore Ave | 42 | $8,600,000 | 2023-08 |
| 1212 N Gower St | 16 | $7,325,000 | 2022-06 |
| 2030 Ivar Ave | 16 | $7,000,000 | 2022-03 |
| 6700 Franklin Ave | 42 | $17,072,000 | 2022-02 |
| 5870 Franklin Ave | 38 | $8,512,500 | 2022-01 |
| 1757 N Serrano Ave | 34 | $8,600,000 | 2021-11 |
| 2030 Ivar Ave | 16 | $6,150,000 | 2020-07 |
| 7467 Hollywood Blvd | 7 | $2,900,000 | 2019-02 |
| 1756 N Gramercy Pl | 18 | $3,750,000 | 2018-11 |
| 1310 N Gardner St | 16 | $5,450,000 | 2018-06 |
| 1006-1008 N El Centro Ave | 29 | $4,580,000 | 2018-04 |
| 1400 N Gardner St | 20 | $5,875,000 | 2017-10 |
| 5200 Hollywood Blvd | 20 | $3,400,000 | 2016-08 |
| 1444 N Vista St | 18 | $5,625,000 | 2016-05 |
| 1325 N Gardner | 27 | $9,100,000 | 2016-02 |
| 1255 N Orange | 33 | $10,513,500 | 2015-11 |
| 1522 N Vista | 24 | $8,526,000 | 2015-11 |
| 1310 N Gardner St | 16 | $3,500,000 | 2015-01 |
| 1134 North Sycamore Avenue | 75 | $14,000,000 | 2013-06 |
| 5455 Lemon Grove Avenue | 16 | $3,200,000 | 2013-02 |
| 2104 N Cahuenga Blvd | 21 | $5,700,000 | 2012-11 |
Computed from this desk’s own closed record in Hollywood, not from a market report. Price per unit falls as buildings get larger, so comparing a six-unit building to a forty-unit building on price per door compares two different products — which is why this is banded by size rather than given as a single number. Across all 24 closings the median is $282,589 per unit.
| Building size | Closings | Median per unit | Range per unit |
|---|---|---|---|
| 4–10 units | 4 | $276,833 | $177,500 – $414,286 |
| 11–25 units | 12 | $303,125 | $170,000 – $457,812 |
| 26–50 units | 7 | $252,941 | $157,931 – $406,476 |
| 51+ units | 1 | $186,667 (one sale, not a median) | — |
How these figures are calculated, and what we do not claim →
The ten Los Angeles submarkets this desk has closed the most buildings in, on our own transactions rather than a published index. Top to bottom the median per door runs close to four times — which is why a citywide per-unit figure is close to useless for pricing a specific building.
| Submarket | Buildings | Units | Median per unit | Size range |
|---|---|---|---|---|
| Hollywood | 24 | 562 | $282,589 | 3–75 |
| Koreatown | 21 | 465 | $158,958 | 4–96 |
| West Hollywood | 21 | 206 | $354,286 | 2–22 |
| Sherman Oaks | 17 | 349 | $237,708 | 6–47 |
| Palms | 13 | 337 | $296,875 | 7–118 |
| Glendale | 12 | 224 | $258,854 | 5–92 |
| Van Nuys | 12 | 380 | $171,801 | 4–68 |
| North Hollywood | 11 | 191 | $271,429 | 5–46 |
| Reseda | 8 | 506 | $156,639 | 10–138 |
| Santa Monica | 8 | 100 | $616,667 | 3–27 |
Fast: clean RSO registration, documented rent history, estoppels in hand, operating statements matching tax returns, no unpermitted units, seismic retrofit complete or documented. Slow: RSO registration gaps (common — annual registration lapses), unpermitted work (Hollywood has more unpermitted unit additions than almost any submarket), deferred capital work visible at inspection, or ambiguous tenant status (subletting, family arrangements, estate-of-tenant situations). Clean Hollywood buildings close in 100-120 days. Complicated Hollywood buildings close in 150-180 days or see meaningful price concessions.
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 248 transactions worth $1.38B. He knows how Hollywood 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 Hollywood building actually gets valued.
Thinking about selling? Get a no-obligation evaluation on your building.
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