Looking for a Van Nuys multifamily broker? Michael Sterman, Senior Managing Director Investments at Marcus & Millichap and founder of the Sterman Multifamily Group, has closed $1.41 billion across 254 Los Angeles apartment building transactions over 14 years — including 12 in Van Nuys alone. If you own an apartment building in Van Nuys and are weighing a sale, this is the team that prices it against Van Nuys's real buyer pool and rules — not a generic LA average.
Van Nuys Multifamily Market Snapshot
110,000
Van Nuys residents
12
Sterman closings in Van Nuys
380
Units sold here
2022
Most recent closing
Van Nuys is central San Fernando Valley — dense, aging, predominantly pre-1978, LA City RSO in most cases. The submarket has the scale to attract institutional interest but the age profile to invite value-add theses. The combination creates the bimodal pricing. Tenant demand is steady but less acute than on the Westside. Vacancy runs near the metro average. Rent growth is constrained by RSO on the dominant building cohort.
Price per unit runs $250,000 to $350,000. Days on market average 120 to 180 days. Blended submarket pricing obscures the real dynamic. Three buckets drive the spread:
Buyers are pricing the thesis, not just the building. A broker who doesn't distinguish between those three buckets is leaving money on the table — in both directions.
What Is My Van Nuys Apartment Building Worth?
Value in Van Nuys 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 Van Nuys building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Institutional PE value-add is aggressive on clean Class C with value-add upside. They bid tight pricing on the thesis and drop fast when diligence surfaces issues.
1031 exchangers are steady on stabilized B and C. Less story-sensitive; more numbers-driven.
Local operators and syndicators are the durable buyer pool for middle-of-the-range deals. They acquire both on- and off-market. The mix shifts quarter to quarter. Listing timing matters in Van Nuys in a way it doesn't in Westside submarkets.
Recent Van Nuys Multifamily Sales
A sample of Van Nuys apartment buildings Michael Sterman has closed. Each links to the full deal record.
What Makes a Van Nuys Building Sell Fast — or Slow
Fast: clean rent roll, documented operating history, LA City RSO registration current, no unpermitted units, tenant ledgers that match the rent roll. Slow: unpermitted garage conversions (common), RSO registration gaps, undocumented side deals, deferred capital beyond roof and plumbing, or ambiguous tenant occupancy (family arrangements, tenant-of-record disputes). The difference between fast and slow in Van Nuys is commonly 5-8% of sale price. That's real money on a $4M or $6M building.
Frequently Asked Questions About Selling Multifamily in Van Nuys
Does the 2026 LA City RSO rewrite affect Van Nuys buildings?
Yes, for pre-1978 inventory. Most Van Nuys multifamily falls under LA City RSO, and the July 2026 formula change caps future rent growth at 4% annually.
How is Van Nuys priced differently from Sherman Oaks or Reseda?
Van Nuys sits between Sherman Oaks (tighter) and Reseda (wider) on pricing. The building-class mix is different — Van Nuys has more stabilized inventory and more value-add candidates than either neighbor.
Who is buying Van Nuys multifamily in 2026?
Three pools. Institutional PE value-add on thesis-clean Class C. 1031 exchangers on stabilized B and C. Local operators and small syndicators on middle-of-range deals.
Should I renovate my Van Nuys building before selling?
Depends on the building and the thesis. If the renovation is capital-light and finishable in 90 days, doing it pre-listing can reposition a stabilized-C into value-add-C pricing. If it's capital-heavy or dependent on tenant turnover, selling "as-is value-add" often nets more. Michael Sterman is Senior Managing Director Investments at Marcus & Millichap with deep focus on Van Nuys, Sherman Oaks, and central Valley submarkets.— Van Nuys is among his most active submarkets by deal count.
Does the 2026 LA City RSO rewrite affect Van Nuys apartment buildings?
Yes. Van Nuys is within the City of Los Angeles, so pre-1978 multifamily buildings here are subject to LA City RSO — including the rewrite approved by City Council in December 2025, which takes effect July 1, 2026. Post-1995 inventory in Van Nuys is Costa-Hawkins exempt and not affected by the rewrite.
Does Measure ULA apply to Van Nuys sales?
Van Nuys 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 Van Nuys Multifamily Expert
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 254 transactions worth $1.41 billion. He knows how Van Nuys 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.”