Looking for a West Hollywood 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 21 in West Hollywood alone. If you own an apartment building in West Hollywood and are weighing a sale, this is the team that prices it against West Hollywood's real buyer pool and rules — not a generic LA average.
West Hollywood sits between Beverly Hills and Hollywood on the LA map and between "premium Westside" and "central LA institutional" on the buyer map. The result is a submarket that attracts capital from both directions. Most West Hollywood multifamily is pre-1979, covered by the city's own rent stabilization ordinance. The city's rent control board sets annual allowable increases independently of LA City's RSO. Historically the regime has been tight but stable — buyers price it accordingly. Tenant demand is structurally high. The city is compact, walkable, transit-proximate, and demographically affluent. Vacancy in stabilized Class A and B runs below metro average. Those fundamentals are what keep the pricing premium intact.
Price per unit runs $400,000 to $575,000 on stabilized inventory — among the highest in LA outside of Santa Monica. Days on market average 75 to 120 days on clean transactions. West Hollywood pricing has been among the most stable in the state through 2023–2025. The city's insulation from LA City regulatory changes creates a visible discount between WeHo and LA City pre-1978 inventory trading three blocks apart.
Value in West Hollywood 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 West Hollywood building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Request a Free West Hollywood Building Evaluation →Institutional capital is most active on stabilized Class B inventory and on clean pre-1979 properties with documented compliance history. These buyers pay top-of-range and close efficiently.
Private high-net-worth buyers and family offices target WeHo for its long-term demographics rather than near-term arbitrage. They pay competitively, sometimes off-market.
1031 exchangers from across California treat WeHo as a premium reinvestment destination. Less price-aggressive than institutional but highly reliable at close.
A sample of West Hollywood apartment buildings Michael Sterman has closed. Each links to the full deal record.
| Address | Units | Price | Closed |
|---|---|---|---|
| 1216-1218 Poinsettia Dr | 2 | $1,075,000 | 2026-09 |
| 1046 N Ogden Dr | 10 | $2,725,000 | 2025-12 |
| 6216 Orange St | 5 | $1,625,000 | 2025-05 |
| 527 N Orlando Ave | 6 | $1,900,000 | 2025-05 |
| 515 N Alfred St | 18 | $6,250,000 | 2024-12 |
| 1446 N Martel Ave | 8 | $1,845,000 | 2023-09 |
| 8410 Fountain Ave | 4 | $1,607,500 | 2023-07 |
| 1031 N Orange Grove Ave | 7 | $3,130,000 | 2022-03 |
| 923 Westbourne Dr | 6 | $2,662,500 | 2021-12 |
| 530 N Spaulding | 4 | $1,600,000 | 2020-07 |
| 1235 N Ogden Dr | 9 | $3,395,000 | 2020-06 |
| 8355 Blackburn Ave | 21 | $6,550,000 | 2020-04 |
| 866 Hilldale Ave | 8 | $4,200,000 | 2019-05 |
| 1047 N Stanley Ave | 10 | $3,075,000 | 2018-06 |
| 851 N Hayworth Ave | 8 | $3,675,000 | 2018-04 |
| 866 Hilldale Ave | 8 | $4,025,000 | 2017-10 |
| 7714-7720 Hampton Ave | 22 | $6,150,000 | 2017-04 |
| 1235-1239 N Detroit St | 18 | $3,950,000 | 2017-02 |
| 7605 Lexington Ave | 5 | $2,310,000 | 2016-05 |
| 7604 Lexington Ave | 7 | $2,480,000 | 2016-03 |
| 1361 N Laurel Ave | 20 | $5,200,000 | 2013-12 |
Computed from this desk’s own closed record in West Hollywood, 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 21 closings the median is $354,286 per unit.
| Building size | Closings | Median per unit | Range per unit |
|---|---|---|---|
| 4–10 units | 16 | $400,938 | $230,625 – $537,500 |
| 11–25 units | 5 | $279,545 | $219,444 – $347,222 |
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: current Rent Stabilization Board registration, documented rent history and just-cause compliance, clean estoppels, seismic retrofit complete, operating statements matching tax returns. Slow: registration gaps with the WeHo Rent Stabilization Board, undocumented rent increases, contested eviction history visible in Board records, or ambiguous long-tenured occupancies. Board records are public. Buyers' counsel will pull them during due diligence. Surprises found in those records become concessions at close.
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 248 transactions worth $1.38B. He knows how West Hollywood 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 West Hollywood building actually gets valued.
Thinking about selling? Get a no-obligation evaluation on your building.
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