Long Beach is the largest genuinely separate multifamily market next to my territory, and its regulatory position is worth stating precisely because owners get it wrong in both directions. There is no local rent cap.
Selling an apartment building here? Long Beach multifamily broker — Michael Sterman's record, comparables and process →
| Buildings closed | 1 |
| Units | 12 |
| Total volume | $3.8 million |
| Price per unit | $317K |
One closing is a real price at a real address, not a comp set. Pricing a Long Beach building should draw on the adjacent submarkets too — the full record is in the Sterman Transaction Index.
| Address | Units | Price | Closed |
|---|---|---|---|
| 4915 E Ocean Blvd | 12 | $3,800,000 | 2025-02 |
A city of roughly 450,000 — the seventh largest in California, and an urban market in its own right rather than a suburb. The stock is deep and varied: 1920s Spanish courtyards in Bluff Park and Belmont Heights, mid-cent...
Read the full seller's guide →Living in townLong Beach is a city of roughly 450,000 — the seventh largest in California and a genuine urban market rather than a suburb of Los Angeles. The multifamily stock is deep and varied: 1920s Spanish courtyards in Bluff Park...
See the full neighborhood profile →Closings1 Sterman Multifamily Group closing in Long Beach. See the full transaction record.
See all 1 Long Beach closing →FAQCommon questions about selling multifamily in Long Beach.
Read the full FAQ →Long Beach is the largest genuinely separate multifamily market adjacent to my territory, and its regulatory position is worth stating precisely because owners get it wrong in both directions. There is no local rent cap — the city repealed its relocation ordinance in 2019 on the view that AB 1482 was more comprehensive — so rents are governed by the state formula, currently 8.7%, rather than an LA City building's 3%. But Long Beach does keep its own just-cause eviction ordinance. And there is no Measure ULA. A Long Beach building's income can grow nearly three times as fast as an equivalent LA City one, and that is what its pricing reflects.
Michael Sterman will walk through comparables, buyer pool, and timing specific to your building — no obligation, no pitch.
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