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 $1.38B across 248 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 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.
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.
Request a Free Panorama City Building Evaluation →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.
A sample of Panorama City apartment buildings Michael Sterman has closed. Each links to the full deal record.
| Address | Units | Price | Closed |
|---|---|---|---|
| 8616 Willis Ave | 53 | $10,275,000 | 2016-05 |
| 9041 Cedros Avenue | 25 | $2,850,000 | 2014-06 |
| 8801 Tobias Ave | 22 | $2,100,000 | 2013-11 |
| 8616 Willis Avenue | 53 | $7,200,000 | 2013-08 |
| 9261 Wakefield Avenue | 25 | $3,935,150 | 2013-07 |
Computed from this desk’s own closed record in Panorama City, 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 5 closings the median is $135,849 per unit.
| Building size | Closings | Median per unit | Range per unit |
|---|---|---|---|
| 11–25 units | 3 | $114,000 | $95,455 – $157,406 |
| 51+ units | 2 | $164,858 | $135,849 – $193,868 |
How these figures are calculated, and what we do not claim →
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.
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 248 transactions worth $1.38B. 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.
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 Panorama City building actually gets valued.
Thinking about selling? Get a no-obligation evaluation on your building.
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