Looking for a Westchester 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. If you own an apartment building in Westchester and are weighing a sale, this is the team that prices it against Westchester's real buyer pool and rules — not a generic LA average.
Westchester Multifamily Market Snapshot
Westchester's proximity to LAX defines its multifamily economics. Airline employees, airport logistics workforce, tech-corridor professionals spilling over from Playa Vista, and the LMU academic community combine to produce a rental demand base that is durable, diverse, and specific to this submarket's geography.
Some Westchester inventory sits within FAA-defined noise contours around LAX. Buyer diligence includes noise-disclosure review, soundproofing status, and in some cases specific FAA-related restrictions. Sellers who have documented noise mitigation improvements transact cleaner than those who leave the disclosure uncertain.
Loyola Marymount University anchors a specific slice of Westchester rental demand — faculty, staff, graduate students, and surrounding academic-adjacent tenant demographics. LMU-adjacent inventory carries a small but real premium tied to the durability of that demand.
What Is My Westchester Apartment Building Worth?
Value in Westchester 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 Westchester building the way a real buyer will, then tells you what it should bring and how to get there. No obligation.
Institutional buyers with tech-corridor or airport-adjacent thesis. 1031 exchangers valuing the multiple-demand-source profile. Local operators. Some individual investors drawn by relatively moderate pricing versus core Westside submarkets.
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Frequently Asked Questions About Selling Multifamily in Westchester
Does the 2026 LA City RSO rewrite affect Westchester apartment buildings?
Yes. Westchester 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 Westchester is Costa-Hawkins exempt and not affected by the rewrite.
Does Measure ULA apply to Westchester sales?
Westchester 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.
What rent control regime applies in Westchester?
Westchester is LA City, which means pre-1978 multifamily is RSO-covered and subject to the December 2025 RSO rewrite (effective July 1, 2026). Post-1995 construction is exempt from LA City RSO under the Costa-Hawkins Rental Housing Act and operates under AB 1482 instead.
Who actually buys multifamily in Westchester?
The Westchester buyer pool includes institutional and private equity focused on tech-corridor inventory, 1031 exchangers valuing the tech demand anchor, and REITs with west-coast or tech-adjacent concentration. Each buyer type prices differently, so the right marketing approach depends on which pool best matches the specific building's profile.
How long does a typical Westchester multifamily sale take to close?
A typical well-prepared Westchester multifamily transaction closes in 45-90 days from purchase agreement to close — cash deals on the faster end (roughly 21-45 days), financed deals on the longer end (60-90 days). Pre-listing preparation (clean rent roll, compliance verified, permits documented) is the single biggest determinant of timeline.
What holding period do Westchester buyers typically underwrite?
Institutional and private equity buyers in Westchester typically underwrite 5-10 year hold periods. Local operators and family offices often hold indefinitely — 15+ years is common. 1031 exchangers align holds with their broader portfolio strategy.
Meet Your Westchester Multifamily Expert
Michael Sterman has spent 14 years specializing exclusively in Los Angeles multifamily, closing 254 transactions worth $1.41 billion. He knows how Westchester 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.”