Looking for a Reseda 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 8 in Reseda alone. If you own an apartment building in Reseda and are weighing a sale, this is the team that prices it against Reseda's real buyer pool and rules — not a generic LA average.
Reseda is western San Fernando Valley — predominantly pre-1978 inventory, LA City RSO, working-class renter demographics, and a transaction pool that's more local than institutional. Buildings are typically 10-60 units, mostly 1950s-1970s construction, often with deferred capital from long-tenured ownership. Rent growth through 2024-2025 has been modest — below metro average. The July 2026 RSO rewrite affects most of the submarket's inventory directly, capping future NOI growth at 4% annually.
Price per unit runs $225,000 to $325,000 — the low end of the LA metro range. Days on market average 140 to 200 days on typical transactions. Public data for Reseda is limited. Most market reports blend Reseda into "San Fernando Valley" without submarket-specific pricing. That data gap makes brokers with actual recent Reseda comps meaningfully more valuable — and brokers without them, meaningfully less.
Value in Reseda 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 Reseda building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Request a Free Reseda Building Evaluation →Local operators and small syndicators are the dominant buyer pool. They know the submarket, have relationships with sellers and tenants, and execute value-add theses that institutional buyers don't pursue.
1031 exchangers from California looking for deployable capital in a higher-yield submarket. Less price-aggressive than institutional but more reliable at close.
Institutional value-add is intermittent — active in quarters when LA City inventory is thin elsewhere, quieter otherwise.
A sample of Reseda apartment buildings Michael Sterman has closed. Each links to the full deal record.
| Address | Units | Price | Closed |
|---|---|---|---|
| 18317-18331 Kittridge St | 72 | $17,000,000 | 2021-02 |
| 6425 Reseda Blvd | 100 | $23,950,000 | 2019-05 |
| 7105-7123 Tampa Ave | 22 | $12,950,000 | 2019-01 |
| 7254 Canby Ave | 10 | $1,355,000 | 2016-07 |
| 18317-18331 Kittridge St | 72 | $12,800,000 | 2015-06 |
| 7237-7261 Amigo Ave | 61 | $6,700,000 | 2014-03 |
| 7722 Reseda Boulevard | 138 | $14,500,000 | 2013-05 |
| 6653 Darby Avenue | 31 | $2,965,000 | 2013-03 |
Computed from this desk’s own closed record in Reseda, 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 8 closings the median is $156,639 per unit.
| Building size | Closings | Median per unit | Range per unit |
|---|---|---|---|
| 4–10 units | 1 | $135,500 (one sale, not a median) | — |
| 11–25 units | 1 | $588,636 (one sale, not a median) | — |
| 26–50 units | 1 | $95,645 (one sale, not a median) | — |
| 51+ units | 5 | $177,778 | $105,072 – $239,500 |
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 rent roll, documented operating history, LA City RSO registration current, known capital condition (good or bad, as long as documented), photographs that show the building honestly. Slow: undisclosed deferred capital, RSO registration gaps, unpermitted units (common in older Reseda inventory), ambiguous tenant arrangements, or operating statements that don't reconcile to tax returns. The difference between fast and slow in Reseda is commonly 5-10% of sale price — larger than in core LA because the buyer pool is narrower and more price-sensitive.
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 248 transactions worth $1.38B. He knows how Reseda 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 Reseda building actually gets valued.
Thinking about selling? Get a no-obligation evaluation on your building.
Request Free Evaluation →