Looking for a Marina del Rey 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. If you own an apartment building in Marina del Rey and are weighing a sale, this is the team that prices it against Marina del Rey's real buyer pool and rules — not a generic LA average.
Marina del Rey sits in unincorporated Los Angeles County. That single jurisdictional fact shapes everything about how Marina multifamily is regulated, how it is priced, and how sellers should think about their exit. Unincorporated LA County operates under the LA County Rent Stabilization and Tenant Protections Ordinance — the RSTPO. And in early 2025, the RSTPO was tightened substantially. As a result, LA County unincorporated is now, in important ways, *more restrictive* than LA City. The historical logic that "county is easier than city" has inverted. Most sellers still haven't adjusted their mental model for this reversal.
The revised RSTPO lowered the allowable annual rent increase cap, reduced the floor and ceiling, and extended coverage to include additional building types that were previously exempt. The effect on pre-1995 unincorporated-county multifamily — including most of the pre-1995 Marina del Rey rental stock — is a materially tighter regulatory regime than it was two years ago. This matters directly for valuation. Buyers underwriting Marina del Rey pre-1995 inventory are pricing the tightened RSTPO constraint. The effect is a structural discount on pre-1995 inventory relative to what the same building would have traded for in 2023.
The coastal irreplaceability factor. Marina del Rey's geographic position — harbor-adjacent, airport-adjacent, Westside-adjacent — gives it a demand floor that exists regardless of regulatory regime. Vacancy is consistently low. Renter demand is consistently deep. The land is finite. Post-1995 Marina inventory — exempt from RSTPO under Costa-Hawkins — trades on the coastal premium without the regulatory discount. That inventory is in one of the strongest bidding environments in the LA metro. The split between pre-1995 and post-1995 Marina inventory is even more pronounced than in most LA submarkets.
Value in Marina del Rey 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 Marina del Rey building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Request a Free Marina del Rey Building Evaluation →Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 259 transactions worth $1.46B. He knows how Marina del Rey buildings are valued, who buys them, and what it takes to get a clean deal closed here. CA DRE License #01911703.
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