The right time to sell depends on several factors including your personal financial goals, current market conditions, and your property's performance. Key indicators that it may be a good time include:

• Strong market conditions: Low cap rates and high buyer demand in your submarket
• Maximized rents: You've brought rents to market rate with limited upside remaining
• Capital needs: Major repairs or retrofits are approaching (soft-story, HVAC, roof)
• Life changes: Retirement, estate planning, or portfolio rebalancing goals
• 1031 exchange opportunity: You've identified a better investment to trade into

I offer complimentary property valuations to help you understand your building's current market position and whether now is an optimal time to sell.

Multifamily brokerage is a specialized field that requires expertise residential agents typically don't possess:

• Investment analysis: We underwrite properties using cap rates, GRM, cash-on-cash returns, and pro forma projections
• Buyer network: Access to qualified investors, 1031 exchangers, and institutional buyers actively seeking apartment buildings
• Rent roll analysis: Understanding of market rents, lease structures, and income optimization
• Due diligence expertise: Knowledge of rent control ordinances, seismic requirements, and regulatory compliance
• Comparable sales data: Access to transaction databases like CoStar showing actual sale prices and terms

A residential agent may be excellent at selling houses but lack the specialized knowledge to properly price and market an income-producing property.

Apartment building values are primarily determined by income, not comparable home sales. The key factors include:

• Net Operating Income (NOI): Your gross income minus operating expenses
• Cap rate: The rate of return buyers expect in your submarket (varies by location, building class, and condition)
• Upside potential: Below-market rents, value-add opportunities, or development potential
• Physical condition: Deferred maintenance, recent improvements, and retrofit compliance
• Location: Neighborhood desirability, transit access, and employment centers

I provide complimentary, no-obligation property valuations. Request yours here.

Buyers will request comprehensive documentation during due diligence. Having these ready speeds up the process:

• Rent roll: Current tenant list with unit types, lease terms, and monthly rents
• T-12 (trailing 12 months): Income and expense statements for the past year
• Utility bills: 12-24 months of water, gas, electric, and trash bills
• Property tax statements: Current and historical assessments
• Insurance declarations: Current policy and premium information
• Lease agreements: All current tenant leases
• Service contracts: Landscaping, pest control, laundry, etc.
• Permits and certificates: Certificate of occupancy, retrofit compliance, etc.

I help sellers organize these documents and create professional offering memorandums that present your property in the best light.

The timeline varies based on property type, pricing, and market conditions, but here's a typical breakdown:

• Pre-marketing (1-2 weeks): Document collection, photography, and offering memorandum preparation
• Marketing period (3-6 weeks): Active marketing, property tours, and offer collection
• Offer negotiation (1-2 weeks): Reviewing offers, counter-offers, and selecting a buyer
• Due diligence (30-45 days): Buyer inspections, document review, and contingency removal
• Closing (2-4 weeks): Loan funding, title transfer, and escrow close

Total timeline: Typically 3-5 months from listing to close. Well-priced properties in strong markets can move faster, while unique or challenged properties may take longer.

Both strategies have advantages depending on your priorities:

On-Market (Public Listing):

• Maximum exposure to all potential buyers
• Competitive bidding typically achieves highest price
• Transparent process with clear market feedback
• Best for: Sellers prioritizing maximum price

Off-Market (Private Sale):

• Discretion—tenants and competitors don't know you're selling
• Faster timeline with pre-qualified buyers
• Less disruption to property operations
• Best for: Sellers prioritizing privacy or speed

I maintain relationships with active buyers and can often present off-market opportunities before going public. We'll discuss which approach aligns with your goals.

Commission structures for multifamily properties vary based on several factors:

• Property value: Larger transactions often have different rate structures
• Complexity: Challenging properties may require more marketing effort
• Market conditions: Current market dynamics can influence negotiations
• Services included: Full-service marketing vs. limited representation

The commission is typically split between the listing broker and buyer's broker. An experienced broker often pays for themselves through better pricing, faster sales, and avoided pitfalls.

I work directly with each seller to structure a commission arrangement that makes sense for their specific situation and property. Let's discuss your needs during our initial consultation.

Beyond broker commissions, sellers in Los Angeles typically pay several closing costs:

Standard seller costs:

• Transfer taxes: City of LA documentary transfer tax (0.45%) plus county transfer tax (0.11%)
• Escrow fees: Seller's portion of escrow services (typically split with buyer)
• Title insurance: Owner's title policy for the buyer (standard seller expense in LA)
• Recording fees: Nominal fees for document recording
• Prorations: Property taxes, rents, and security deposits adjusted to closing date

Potentially negotiable items:

• Repair credits or buyer concessions
• Home warranty policies
• Termite inspection and clearance
• Natural hazard disclosure reports

As a general estimate, plan for closing costs of approximately 1-2% of the sale price in addition to commissions. I provide detailed net sheet projections so you know exactly what to expect at closing.

I take a comprehensive approach to marketing that maximizes exposure to qualified buyers:

Commercial listing platforms:

• CoStar/LoopNet: The largest commercial real estate databases, reaching institutional and private investors nationwide
• Crexi: Growing platform popular with active multifamily buyers
• MLS: Local multiple listing service for broader agent exposure

Direct outreach:

• Investor database: Targeted email campaigns to qualified buyers actively seeking LA multifamily
• 1031 exchange buyers: Direct contact with investors on tight exchange timelines
• Broker network: Collaboration with other multifamily specialists who may have ready buyers

Marketing materials:

• Professional photography highlighting property features
• Detailed offering memorandum with financial analysis
• Property website and virtual tour options

Every property receives a customized marketing strategy based on its unique characteristics and target buyer profile.

Proper preparation can significantly impact buyer perception and your final sale price:

Physical presentation:

• Curb appeal: Clean up landscaping, repair fencing, power wash walkways
• Common areas: Fresh paint in hallways, clean laundry rooms, organized storage
• Exterior: Address any obvious deferred maintenance visible from the street
• Lighting: Replace burnt-out bulbs, ensure exterior lighting works

Documentation:

• Rent roll: Current and accurate with lease expiration dates
• Financial records: Organized income and expense statements (T-12)
• Leases: Copies of all tenant leases readily available
• Service contracts: Landscaping, pest control, laundry agreements
• Permits and compliance: Retrofit certificates, permits for any improvements

I recommend walking the property together before listing so we can identify any items that should be addressed and develop a strategy to present your building in its best light.

Clear, consistent communication is a cornerstone of my service. Here's what you can expect:

During marketing:

• Regular updates on showing activity and buyer interest
• Feedback from buyers and their agents after property tours
• Market insights and any pricing recommendations
• Immediate notification when offers are received

During escrow:

• Timeline tracking with key milestone dates
• Updates on buyer's due diligence progress
• Coordination of document requests and inspections
• Proactive communication about any issues before they become problems

Communication preferences:

• Phone, text, or email—whichever you prefer
• I'm available seven days a week for questions or concerns
• You'll never be left wondering about the status of your transaction

My goal is to keep you informed without overwhelming you, providing meaningful updates when there's news to share.

Most Los Angeles apartment building sales are completed without the seller hiring an attorney, but there are situations where legal counsel is advisable:

When an attorney typically isn't necessary:

• Straightforward sales using standard California Association of Realtors (CAR) contracts
• Clean title with no disputes or encumbrances
• Simple ownership structure (individual or basic LLC)
• No unusual lease situations or tenant disputes

When you should consider legal counsel:

• Trust or estate sales: Probate, trust administration, or multiple heirs involved
• Partnership disputes: Co-owners with differing interests or disagreements
• Complex 1031 exchanges: Multi-property exchanges or unusual structures
• Tenant litigation: Ongoing disputes that could affect the sale
• Environmental issues: Known contamination or remediation requirements

I'm not an attorney and cannot provide legal advice, but I can recommend experienced real estate attorneys if your situation warrants one. When in doubt, a consultation with legal counsel can provide peace of mind.

The capitalization rate (cap rate) is the most important metric in apartment building valuation. It represents the rate of return a buyer expects on their investment.

Formula: Cap Rate = Net Operating Income (NOI) ÷ Purchase Price

Example: A building with $100,000 NOI selling at a 5% cap rate would be valued at $2,000,000 ($100,000 ÷ 0.05)

Why it matters:

• Lower cap rates = higher values (buyers accept lower returns in desirable areas)
• Cap rates vary by location, building class, and market conditions
• Prime LA locations may trade at 4-5% caps, while secondary markets see 5-7%+
• When interest rates rise, cap rates typically expand, reducing values

Understanding cap rates in your submarket is essential for realistic pricing expectations.

The Gross Rent Multiplier is a quick valuation metric commonly used in multifamily real estate.

Formula: GRM = Purchase Price ÷ Annual Gross Rent

Example: A building with $120,000 annual gross rent selling for $1,800,000 has a GRM of 15 ($1,800,000 ÷ $120,000)

Key points:

• GRM doesn't account for expenses, so it's less precise than cap rate
• Useful for quick comparisons between similar properties
• Los Angeles GRMs typically range from 12-18 depending on location and condition
• Lower GRM = better value (you're paying less per dollar of rent)

I use both GRM and cap rate analysis to ensure accurate pricing.

Below-market rents can actually increase your building's appeal to investors, but the impact depends on rent control status:

Non-rent-controlled properties:

• Buyers pay a premium for "upside" potential
• Value is based on a blend of current income and achievable market rents
• Buyers may offer more aggressive prices knowing they can raise rents

Rent-controlled properties (RSO, AB 1482):

• Annual rent increases are capped (typically 3-10% depending on ordinance)
• Buyers must wait for natural turnover to achieve market rents
• Long-term tenants with very low rents can limit value
• Buyers discount based on the time needed to realize upside

I analyze your rent roll against market comparables to determine how upside potential affects your building's value.

The Los Angeles Rent Stabilization Ordinance (RSO) is a local rent control law that applies to most apartment buildings built before October 1, 1978 in the City of Los Angeles.

Key provisions:

• Rent increases: Limited to an annual percentage set by the Rent Adjustment Commission (typically 3-8%)
• Just cause eviction: Landlords can only evict for specific reasons listed in the ordinance
• Vacancy decontrol: When a tenant voluntarily vacates, you can reset rent to market rate
• Registration: Properties must be registered with LAHD and pay annual fees
• Relocation assistance: Required for no-fault evictions (Ellis Act, owner move-in, etc.)

RSO status significantly affects property value and buyer underwriting. I help sellers understand how rent control impacts their specific situation.

AB 1482 is California's statewide rent control and just cause eviction law that took effect January 1, 2020. It applies to most residential properties not already covered by local rent control.

Rent cap: Annual increases limited to 5% + local CPI (or 10%, whichever is lower)

Just cause eviction: After 12 months of tenancy, landlords need a valid reason to terminate

Exemptions include:

• Single-family homes (with proper notice to tenant)
• Buildings less than 15 years old
• Properties already covered by local rent control
• Owner-occupied duplexes

Sunset: The law expires January 1, 2030 (unless extended)

Understanding whether your property falls under AB 1482, local RSO, or neither is crucial for accurate valuation.

Soft-story buildings are structures with a weak first floor—typically due to parking areas, large openings, or inadequate bracing. Los Angeles requires seismic retrofitting for vulnerable buildings.

Which buildings are affected:

• Wood-frame construction
• 2+ stories with 3+ units
• Built before January 1, 1978
• Ground floor parking or other soft-story condition

Compliance deadlines: The City of LA has issued orders with specific deadlines. Non-compliance can result in fines and inability to obtain permits.

Typical costs: $50,000 to $150,000+ depending on building size and complexity

Selling considerations: Buyers will factor retrofit costs into their offers. Completed retrofits can be a selling point.

A 1031 exchange (named after IRS Section 1031) allows you to defer capital gains taxes when selling an investment property by reinvesting the proceeds into a "like-kind" replacement property.

Key benefits:

• Defer federal capital gains tax (up to 20%)
• Defer state capital gains tax (up to 13.3% in California)
• Defer depreciation recapture tax (25%)
• Compound your wealth by reinvesting the full sale proceeds

Requirements:

• Both properties must be held for investment or business use
• Must use a Qualified Intermediary (QI) to hold funds
• Strict timelines must be followed (45 days to identify, 180 days to close)
• Must acquire equal or greater value to defer all taxes

Learn more on our 1031 Exchange page.

1031 exchanges have strict, non-negotiable deadlines:

45-Day Identification Period:

• Starts the day your sale closes
• Must identify potential replacement properties in writing to your QI
• Can identify up to 3 properties (or more under certain rules)
• No extensions—even for weekends or holidays

180-Day Exchange Period:

• Must close on replacement property within 180 days of your sale
• Or by your tax return due date (including extensions), whichever is earlier
• Property must be one you identified during the 45-day period

Planning tip: Start searching for replacement properties before your sale closes to maximize your identification period.

Yes! "Like-kind" is broadly defined for real estate. You can exchange between different property types as long as both are held for investment or business purposes.

Valid exchanges include:

• Apartment building → Single-tenant retail
• Apartment building → Industrial warehouse
• Apartment building → Delaware Statutory Trust (DST)
• Apartment building → Multiple smaller properties
• Multiple properties → One larger property

Not allowed:

• Personal residence (primary home)
• Property held primarily for sale (fix-and-flip)
• Foreign real estate

Many apartment building sellers exchange into passive investments like NNN retail or DSTs to reduce management burden while maintaining tax deferral.

I focus on multifamily properties throughout Los Angeles County, with particular expertise in these submarkets:

San Fernando Valley:

• Sherman Oaks, Encino, Tarzana, Woodland Hills
• Van Nuys, North Hollywood, Studio City
• Burbank, Glendale (familiar with local ordinances)

Westside:

• West Los Angeles, Mar Vista, Palms
• Culver City, Santa Monica (rent control expertise)
• Venice, Westchester

Central LA:

• Mid-City, Mid-Wilshire, Koreatown
• Hollywood, Silver Lake, Echo Park
• Los Feliz, Atwater Village

South LA & Beyond:

• Inglewood, Hawthorne, Gardena
• South Los Angeles, East LA

Concentrating on these areas allows me to stay ahead of local market trends, understand zoning nuances, and maintain relationships with active buyers in each submarket.

While you can legally sell your property yourself (FSBO), an experienced multifamily broker typically delivers value that exceeds their commission:

Pricing expertise:

• Access to transaction databases showing actual sale prices
• Understanding of current buyer demand and market conditions
• Ability to identify and quantify value-add potential

Buyer access:

• Database of qualified, active investors
• Relationships with 1031 exchange buyers on tight timelines
• Marketing reach through industry platforms and networks

Transaction management:

• Professional offering memorandums and marketing materials
• Coordination of tours, offers, and negotiations
• Due diligence management and problem-solving
• Experience closing complex transactions

Studies consistently show that professionally marketed properties sell for higher prices and in less time than FSBO listings.

Not all brokers are created equal. Here's what to evaluate:

Specialization:

• Do they focus on multifamily, or is it one of many property types?
• Do they know your specific submarket?
• What's their track record with similar properties?

Market knowledge:

• Can they discuss recent comparable sales in detail?
• Do they understand local rent control and regulatory issues?
• Are they aware of market trends affecting your property?

Communication style:

• Are they responsive and accessible?
• Do they explain things clearly without jargon?
• Will you work directly with them or be handed off to a team?

References:

• Can they provide references from past sellers?
• What do their reviews and testimonials say?

View my client testimonials to see what sellers say about working with me.

The first step is a no-obligation conversation about your property and goals. Here's how we typically begin:

Step 1: Initial consultation

• We'll discuss your property, timeline, and objectives
• I'll ask about your rent roll, building condition, and any concerns
• No commitment required—just a conversation

Step 2: Property analysis

• I'll research comparable sales and market conditions
• Provide a preliminary value range for your property
• Discuss marketing strategy options

Step 3: Decision time

• If you decide to move forward, we'll formalize our agreement
• Begin document collection and marketing preparation
• Launch your property to market