Looking for a Sherman Oaks 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 17 in Sherman Oaks alone. If you own an apartment building in Sherman Oaks and are weighing a sale, this is the team that prices it against Sherman Oaks's real buyer pool and rules — not a generic LA average.
Sherman Oaks is the Valley floor's most-demanded multifamily submarket. Demographics favor the renter class that pays aggressive market rent. School district quality, walkability to Ventura Boulevard, and proximity to both the Sepulveda Pass and the 101 corridor keep tenant demand structurally high. Buyer demand is correspondingly robust. Institutional capital pays premium pricing for stabilized Class A and B inventory. Family offices acquire regularly off-market. 1031 exchangers treat Sherman Oaks as one of the most reliable re-investment destinations in greater LA. When multiple buyer types compete for the same building, pricing holds. Building-age composition is unusually mixed. Many Sherman Oaks buildings are pre-1978 and LA City RSO-covered. But a significant portion was built 1978 through 1994 (AB 1482 governance but not RSO) and a meaningful share post-1995 (Costa-Hawkins exempt, AB 1482 only). This spread matters more in 2026 than it ever has because the three regimes are pricing at increasingly divergent levels.
Price per unit runs $300,000 to $425,000 on stabilized inventory. Days on market average 100 to 160 days, tighter than the Valley broader average. Sherman Oaks is one of the few LA submarkets where the same street can host three meaningfully different valuations on otherwise-similar buildings. That is not a market defect. It is information about the asset class you own.
Value in Sherman Oaks 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 Sherman Oaks building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Request a Free Sherman Oaks Building Evaluation →Institutional and PE value-add leads activity on post-1995 Class A and B. These buyers pay near-asking on clean deals.
Family offices, often with existing Valley portfolios, acquire quietly off-market. Some are second and third generation LA operators with Sherman Oaks holdings going back to the 1980s.
1031 exchangers from across LA and from out-of-state treat Sherman Oaks as a top-tier re-investment destination. 1031 money tends to accept the submarket's pricing rather than negotiate it down.
A sample of Sherman Oaks apartment buildings Michael Sterman has closed. Each links to the full deal record.
| Address | Units | Price | Closed |
|---|---|---|---|
| 4540 Natick Ave | 36 | $12,100,000 | 2026-05 |
| 4556 Hazeltine Ave | 6 | $1,635,000 | 2024-09 |
| 4331 Ventura Canyon Ave | 16 | $4,750,000 | 2021-09 |
| 4484 Murietta Ave | 10 | $3,000,000 | 2020-04 |
| 14632 Magnolia Blvd | 16 | $3,790,000 | 2019-11 |
| 15009 Moorpark St | 45 | $18,100,000 | 2017-07 |
| 14930 Magnolia Ave | 8 | $2,040,000 | 2016-01 |
| 4632-4646 Vista Del Monte | 34 | $16,510,000 | 2015-06 |
| 14900 Moorpark Ave | 47 | $9,000,000 | 2014-10 |
| 14833 Magnolia Ave | 36 | $7,200,000 | 2014-09 |
| 4433 Murietta Ave | 24 | $5,705,000 | 2014-04 |
| 14258 Dickens St | 11 | $1,900,000 | 2014-02 |
| 14701 Dickens St | 8 | $2,000,000 | 2013-10 |
| 14258 Dickens Street | 11 | $1,435,000 | 2013-04 |
| 13506 Rye Street | 15 | $2,900,000 | 2013-04 |
| 4721 Kester Avenue | 10 | $1,915,000 | 2013-03 |
| 15286 Sutton Street | 16 | $2,220,000 | 2012-11 |
Computed from this desk’s own closed record in Sherman Oaks, 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 17 closings the median is $237,708 per unit.
| Building size | Closings | Median per unit | Range per unit |
|---|---|---|---|
| 4–10 units | 5 | $255,000 | $191,500 – $300,000 |
| 11–25 units | 7 | $193,333 | $130,455 – $296,875 |
| 26–50 units | 5 | $336,111 | $191,489 – $485,588 |
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 capital improvements, no open code violations, operating statements that reconcile to tax returns. A Sherman Oaks building presented cleanly can attract three or more competitive offers and close within 110 days of listing. Slow: unpermitted work (common in older Sherman Oaks inventory — garage conversions, additional units, unrecorded changes), RSO registration gaps if the building is pre-1978, or deferred maintenance visible to any inspector. Each of these is a price concession that compounds if multiple apply. The difference between fast and slow in Sherman Oaks is commonly 3-5% of sale price. On a $6 million building, that's $180,000 to $300,000. The cost of pre-listing preparation to eliminate these issues is typically a fraction of that number.
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 248 transactions worth $1.38B. He knows how Sherman Oaks 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 Sherman Oaks building actually gets valued.
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