Looking for a Panorama City multifamily broker? Michael Sterman, Senior Managing Director Investments at Marcus & Millichap and founder of the Sterman Multifamily Group, has closed $1.41 billion across 254 Los Angeles apartment building transactions over 14 years — including 5 in Panorama City alone. If you own an apartment building in Panorama City and are weighing a sale, this is the team that prices it against Panorama City's real buyer pool and rules — not a generic LA average.
Panorama City Multifamily Market Snapshot
5
Sterman closings in Panorama City
178
Units sold here
2016
Most recent closing
Panorama City is dense, aging, and working-class. Most buildings are 1950s-1970s construction. LA City RSO applies to nearly all multifamily inventory. The tenant base is price-sensitive and relatively stable — turnover is slower than in more transient Valley submarkets. Rent growth has been modest. Market rents grow slowly; in-place rents grow at the RSO-allowed ceiling. The gap between the two is real but widens gradually, not aggressively. Buyer pool is narrow but durable. Institutional capital participates intermittently. Local operators and value-add syndicators drive the transaction flow.
Price per unit runs $225,000 to $325,000 — at or near the floor for LA metro multifamily pricing. Days on market average 120 to 180 days. Pricing ranges widely by quarter because the Panorama City buyer pool varies. Active quarters compress pricing; slower quarters widen it. Knowing the current pool is central to pricing accurately.
What Is My Panorama City Apartment Building Worth?
Value in Panorama City 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 Panorama City building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Local operators and syndicators are the backbone of the buyer pool. Many have operated in the submarket for years and know which blocks, which building types, and which tenant profiles reward renovation.
1031 exchangers seeking higher yields than core LA can provide. Price-disciplined, close-reliable.
Institutional PE value-add occasional on larger deals with clear upside thesis. Not a consistent presence.
Recent Panorama City Multifamily Sales
A sample of Panorama City apartment buildings Michael Sterman has closed. Each links to the full deal record.
What Makes a Panorama City Building Sell Fast — or Slow
Fast: clean rent roll, documented operating history, LA City RSO registration current, photographs that show the building honestly, operating statements matching tax returns. Slow: unpermitted work (garage conversions, added units), RSO registration gaps, contested tenant arrangements, or operating expenses that look understated to an underwriter. Panorama City preparation matters because the buyer pool is price-sensitive. Surprises found at diligence translate to concessions more directly here than in institutional-driven submarkets.
Frequently Asked Questions About Selling Multifamily in Panorama City
Does the 2026 LA City RSO rewrite affect Panorama City buildings?
Yes. Nearly all Panorama City multifamily is pre-1978 LA City. The July 2026 formula change caps future rent growth at 4% annually.
Who is buying Panorama City multifamily in 2026?
Primarily local operators and syndicators, 1031 exchangers seeking yield, and occasional institutional value-add on larger deals. Narrower buyer pool than core LA.
How does Panorama City compare to Van Nuys or Reseda?
Pricing is similar to both. Van Nuys has a more bimodal pricing profile (stabilized B vs value-add C). Reseda trades slightly softer. Panorama City sits between them on most pricing dimensions.
Is Panorama City a good submarket to buy in 2026?
For value-add operators with Valley experience, yes — yields are above core LA and the local buyer pool supports future exit. For passive investors, the returns are steady but not exciting. Michael Sterman is Senior Managing Director Investments at Marcus & Millichap with deep focus on Panorama City, Van Nuys, North Hollywood, and central-eastern Valley submarkets.
Does the 2026 LA City RSO rewrite affect Panorama City apartment buildings?
Yes. Panorama City is within the City of Los Angeles, so pre-1978 multifamily buildings here are subject to LA City RSO — including the rewrite approved by City Council in December 2025, which takes effect July 1, 2026. Post-1995 inventory in Panorama City is Costa-Hawkins exempt and not affected by the rewrite.
Does Measure ULA apply to Panorama City sales?
Panorama City is within the City of Los Angeles, so Measure ULA applies to real estate sales above the specified threshold. The Measure ULA thresholds and rates have been revised since the original April 2023 enactment — current figures should be verified against LA City documentation before any pre-listing net-proceeds model is finalized.
Meet Your Panorama City Multifamily Expert
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 254 transactions worth $1.41 billion. He knows how Panorama City 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.”