Looking for a Long Beach 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 Long Beach alone. If you own an apartment building in Long Beach and are weighing a sale, this is the team that prices it against Long Beach's real buyer pool and rules — not a generic LA average.
Long Beach Multifamily Market Snapshot
450,000
Long Beach residents
1
Sterman closings in Long Beach
12
Units sold here
2025
Most recent closing
A city of roughly 450,000 — the seventh largest in California, and an urban market in its own right rather than a suburb. The stock is deep and varied: 1920s Spanish courtyards in Bluff Park and Belmont Heights, mid-century walk-ups along Ocean and Broadway, dense pre-war blocks in Alamitos Beach and Downtown, post-war garden apartments spreading east.
The Port of Long Beach anchors the economy alongside logistics, healthcare and aerospace, and CSU Long Beach plus Long Beach City College sustain a substantial student renter base. Renter households are well over half the city.
What Is My Long Beach Apartment Building Worth?
Value in Long Beach 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 Long Beach building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Frequently Asked Questions About Selling Multifamily in Long Beach
Who is the best multifamily broker in Long Beach?
There's no single citywide answer — the best multifamily broker for your Long Beach building is the one who has closed comparable buildings in Long Beach recently and can prove it. Michael Sterman has closed 1 multifamily building in Long Beach, 12 units, as part of $1.46B across 259 LA transactions overall. Verify any broker's track record with the five tests in "How to Choose the Best Multifamily Broker in Los Angeles."
How much is my Long Beach apartment building worth?
There is no honest per-unit number that applies to every Long Beach building — vintage, rent-control status, and the gap between your in-place and market rents move it more than the neighborhood does. We have closed 1 building in Long Beach, which is too small a sample to publish a median we would stand behind — so we will not pretend otherwise. It priced around $316,667 per unit. The comparable set that actually prices your building is wider than this one submarket, and pulling it is the first thing we do.
Does Long Beach have rent control?
No. Long Beach has no local rent control ordinance. It repealed its Tenant Relocation Assistance Ordinance in December 2019, taking the view that AB 1482's statewide protections were more comprehensive. Rent increases are governed by AB 1482 for covered buildings.
What is the allowable rent increase in Long Beach?
For AB 1482-covered buildings, 5% plus the regional CPI change capped at 10% — currently 8.7% for increases effective August 2026 through July 2027, up from 8% the prior year.
Are there local eviction protections?
Yes. Long Beach maintains its own Just Cause Eviction Ordinance separate from AB 1482, and no-fault terminations can carry relocation assistance equal to one month's rent for qualifying tenants.
Does Measure ULA apply to a Long Beach sale?
No. Measure ULA is a City of Los Angeles transfer tax and Long Beach is its own city. On a sale above the LA City thresholds that distinction is worth 4% or 5.5% of the gross price.
Meet Your Long Beach Multifamily Expert
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 259 transactions worth $1.46B. He knows how Long Beach buildings are valued, who buys them, and what it takes to get a clean deal closed here. CA DRE License #01911703.
What Owners Say About Working With Michael
★★★★★
“I highly recommend Michael Sterman and his group. I just closed escrow on a 36 unit MF which Michael obtained the buyer. Michael handled the sale and escrow process extremely professionally. I have been a MF real estate broker myself for 45 years; I know who is a pro and who is not.”
Robert Corry
Verified Google review
★★★★★
“In Los Angeles multifamily, there's a huge gap between agents who talk about deals and agents who actually understand how they work. Michael Sterman is firmly in the second camp. What sets them apart isn't just market knowledge—it's judgment. They understand rent control realities, tenant issues, expense creep, cap-ex tradeoffs, and how underwriting changes block by block in LA. They're responsive, direct, and strategic—no fluff, no wasted time. If you're serious about buying or selling multifamily in Los Angeles, you want someone like Sterman on your side.”
Michael Maltzman
Verified Google review
★★★★★
“I've worked with Michael Sterman on multiple transactions and couldn't recommend him more highly. He has sold three properties to me and has also sold a property for me. He's professional, responsive, and gets deals done efficiently. A true pro.”