Looking for a Silver Lake 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 3 in Silver Lake alone. If you own an apartment building in Silver Lake and are weighing a sale, this is the team that prices it against Silver Lake's real buyer pool and rules — not a generic LA average.
Silver Lake Multifamily Market Snapshot
35,000
Silver Lake residents
3
Sterman closings in Silver Lake
38
Units sold here
2026
Most recent closing
Drive the hills between Rowena, Glendale Boulevard, and the reservoir. Count the new construction multifamily. The answer is close to zero. The topography is too steep for most development. The zoning is restrictive. The existing buildings are often architecturally protected or architecturally too distinct to replace. When supply cannot grow and demand has grown for thirty years, the result is a submarket where scarce inventory acquires premium pricing independent of NOI math. Buyers pay for the building partly, and partly for the fact that another building like it is not going to appear.
What Is My Silver Lake Apartment Building Worth?
Value in Silver Lake 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 Silver Lake building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Local operators with Silverlake-area concentration — some third-generation families — are the most consistent acquirers. They know the submarket, the hillsides, the specific buildings. They acquire for long holds. Selective institutional and private equity shows up on larger or architecturally-significant assets. The screen is tight. The due diligence is thorough.
1031 exchangers valuing the stock-constrained, culturally-distinct profile. Silverlake is not a traditional 1031 destination for income maximization — it is a destination for sellers who want the specific asset class Silverlake represents.
Recent Silver Lake Multifamily Sales
A sample of Silver Lake apartment buildings Michael Sterman has closed. Each links to the full deal record.
Frequently Asked Questions About Selling Multifamily in Silver Lake
Who is the best multifamily broker in Silver Lake?
There's no single citywide answer — the best multifamily broker for your Silver Lake building is the one who has closed comparable buildings in Silver Lake recently and can prove it. Michael Sterman has closed 3 multifamily buildings in Silver Lake, 38 units, as part of $1.38B across 248 LA transactions overall. Verify any broker's track record with the five tests in "How to Choose the Best Multifamily Broker in Los Angeles."
How much is my Silver Lake apartment building worth?
There is no honest per-unit number that applies to every Silver Lake building — vintage, rent-control status, and the gap between your in-place and market rents move it more than the neighborhood does. We have closed 3 buildings in Silver Lake, which is too small a sample to publish a median we would stand behind — so we will not pretend otherwise. It priced around $243,333 per unit. The comparable set that actually prices your building is wider than this one submarket, and pulling it is the first thing we do.
Does the 2026 LA City RSO rewrite affect Silverlake buildings?
Yes — Silverlake is LA City, and the rewrite applies to pre-1978 multifamily.
How does stock constraint affect sale pricing?
Scarcity supports premium pricing on buildings with specific architectural or locational distinction. The premium is real but varies building by building.
Is Silverlake a good 1031 destination for income-maximizing buyers?
Not typically. Silverlake income profile is moderate; its appeal is scarcity and character, not maximum yield. Michael Sterman is Senior Managing Director Investments at Marcus & Millichap. He operates across Silverlake, Los Feliz, and the LA City cultural-core submarkets.
Does Measure ULA apply to Silver Lake sales?
Silver Lake 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 Silver Lake Multifamily Expert
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 248 transactions worth $1.38B. He knows how Silver Lake 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.”