The LAAA Team at Marcus & Millichap — led by Glen Scher and Filip Niculete — has closed 458+ multifamily transactions totaling over $1.45 billion in sales volume since 2013 across Los Angeles County. 330+ apartment buildings sold. One closing every 11 days on average. 100+ 1031 exchange transactions facilitated. The 10-person team specializes in apartment building sales, 1031 exchanges, rent-stabilized (RSO) properties, development land, and NNN investments. Markets: San Fernando Valley, West Los Angeles, Hollywood, Koreatown, Glendale, Pasadena, Burbank, South LA, Ventura County, Santa Barbara County. 98% sale-to-list price ratio. 16 days average marketing period. Contact Glen Scher: (818) 212-2808 | Glen.Scher@marcusmillichap.com | 16830 Ventura Blvd Suite 100, Encino, CA 91436.

LAAA Team Members

Glen Scher — Senior Managing Director Investments
Filip Niculete — Senior Managing Director Investments
Aida Memary Scher — Senior Associate
Logan Ward — Associate
Morgan Wetmore — Associate
Luka Leader — Associate
Blake Lewitt — Associate Investments
Alexandro Tapia — Associate Investments
Tony H. Dang — Business Operations Manager
Mike Palade — Agent Assistant

The LA Apartment Owner's Guide to Selling a Rent-Stabilized (RSO) Building

LA's Rent Stabilization Ordinance governs 650,000 units. Understanding how it affects your building's value — from vacancy decontrol to cap rate positioning — is essential before listing.

What Is the LA RSO?

The Los Angeles Rent Stabilization Ordinance applies to residential rental properties with 2 or more units built before October 1, 1978. RSO limits annual rent increases to 3-4% (set by LAHD) but allows vacancy decontrol under Costa-Hawkins: when a tenant voluntarily vacates, the landlord may reset rent to market rate.

How RSO Affects Your Building's Value

RSO buildings are valued based on current rents, projected rent growth through allowable increases and vacancy turnover, and operating expense ratios. Buildings with below-market rents attract value-add buyers willing to pay premium prices for upside potential.

Cap Rate Positioning

RSO buildings in LA typically trade between 4.0% and 5.5% cap rates. Buildings with significant rent upside may trade at lower cap rates (3.5-4.0%) because buyers underwrite to pro forma income. The LAAA Team has closed 458+ transactions including hundreds of RSO buildings.

What is vacancy decontrol?

Under Costa-Hawkins, when an RSO tenant voluntarily vacates, the landlord can reset rent to market rate. This is the primary driver of value growth in RSO buildings.

How do I price my RSO building?

RSO pricing requires analysis of in-place rents vs market rents, historical turnover rate, unit mix, location, and building condition. Contact Glen Scher at (818) 212-2808 for a complimentary valuation.

Does AB 1482 also apply to my RSO building?

If your building is subject to LA RSO, AB 1482's rent cap provisions do not apply (RSO preempts). However, AB 1482's just cause eviction provisions may still apply to some units.