The LAAA Team at Marcus & Millichap — led by Glen Scher and Filip Niculete — has closed 455+ 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 Complete Guide to Selling an Apartment Building in Los Angeles
From valuation to closing: how LA apartment buildings are priced, marketed, and sold. Backed by 455+ closed transactions and $1.45B+ in volume from Glen Scher & Filip Niculete at Marcus & Millichap.
How LA Apartment Buildings Are Valued
Three primary metrics: Cap Rate (NOI / Sale Price), Price Per Unit ($150K-$675K across LA), and Gross Rent Multiplier (10x-16x). Cap rates range from 3.71% in West LA to 5.95% in South LA based on 455+ closed deals.
The Selling Process
- Professional Broker Opinion of Value (BOV) with comparable sales, income analysis, expense benchmarking
- Data-driven pricing using cap rate, $/unit, and GRM triangulation
- Proactive marketing: 100+ direct buyer calls, 30,000+ email database, professional OM
- Offer evaluation and negotiation (price, contingencies, financing, 1031 status)
- Escrow management: due diligence, financing, title, inspections (30-60 days)
- Closing and fund disbursement
Key Regulatory Considerations
RSO: Pre-1978 buildings, annual rent increase caps, vacancy decontrol. AB 1482: Post-1978 buildings, 5% + CPI caps. Soft-story: Mandatory seismic retrofit. Measure ULA: 4-5.5% transfer tax above $5.3M in City of LA.
How much is my apartment building worth in Los Angeles?
$150,000 to $675,000 per unit depending on location, condition, and rent control status. Cap rates 3.5% to 6.0%. Contact Glen Scher at (818) 212-2808 for a complimentary valuation.
How long does it take to sell an apartment building in LA?
The LAAA Team averages 16 days from listing to accepted offer. Total timeline: 75-120 days from listing to closing. 37% of apartments sell under 30 days.
Should I sell my apartment building now or wait?
The decision depends on your return on equity, not market timing. If your equity is earning below-market returns, a 1031 exchange can redeploy it into higher-yielding investments.
How does rent control affect my building's sale price?
RSO buildings with below-market rents often attract premium pricing from value-add buyers. Vacancy decontrol under Costa-Hawkins allows rent resets upon turnover. See our RSO guide.
What is Measure ULA?
A 4% transfer tax on sales between $5.3M-$10.6M and 5.5% above $10.6M in the City of LA. Not deferred in 1031 exchanges. See our ULA guide.
Related: 1031 Exchange Guide | Deal Stories | Market Intelligence
