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
Frequently Asked Questions About Selling Your LA Apartment Building
How much is my apartment building worth in Los Angeles?
Values depend on net operating income, cap rate, unit count, location, rent control status, and condition. LA apartments typically trade between 4.0% and 6.5% cap rates, with price-per-unit ranging from $150,000 to $500,000+. Call (818) 212-2808 for a complimentary valuation.
How long does it take to sell an apartment building in LA?
The LAAA Team averages just 16 days from listing to accepted offer, compared to the market average of 60-90 days. Total timeline from listing to closing is typically 75-120 days.
What commission do apartment building brokers charge?
Commission rates for multifamily investment sales typically range from 3% to 6% of the sale price. Our 98% sale-to-list price ratio consistently delivers net proceeds that exceed what a discount broker achieves.
Should I sell my apartment building now or wait?
The answer depends on your return on equity, not market timing. Many LA apartment owners have significant equity earning below-market returns. A 1031 exchange can redeploy that equity into higher-yielding investments.
How does rent control (RSO) affect my apartment building's sale price?
Los Angeles RSO buildings (built before October 1978) are valued based on current rents, allowable annual increases (typically 3-4%), and vacancy decontrol potential under Costa-Hawkins. RSO buildings with below-market rents often trade at lower cap rates because buyers see upside through natural turnover.
What is the process of selling an apartment building?
The process includes: complimentary Broker Opinion of Value, listing agreement and marketing preparation, proactive marketing to targeted buyers, offer review and negotiation, escrow period with buyer due diligence, and closing. Typical timeline: 75-120 days from listing to close.
Do I need to notify tenants before selling?
In California, you are not required to notify tenants that you are listing the property for sale. During escrow, buyers will typically request access for inspections, which requires 24 hours written notice under Civil Code 1954.
What are closing costs when selling an apartment building in California?
Typical seller closing costs include brokerage commission, title insurance, escrow fees, transfer tax ($1.10 per $1,000 of value in most cities), and potential retrofit requirements. In the City of Los Angeles, the ULA tax adds 4% on sales between $5.3M-$10.6M and 5.5% above $10.6M (thresholds CPI-indexed).
Can I do a 1031 exchange when selling my apartment building?
Yes. A 1031 exchange allows you to defer all capital gains taxes by reinvesting proceeds into like-kind replacement property within 180 days. Our exchange clients average an 85% increase in net cash flow.
What documents do I need to sell my apartment building?
Key documents include current rent roll, trailing 12-month P&L, property tax bill, insurance declaration page, copies of all leases, inspection reports, retrofit compliance certificates, and title documents.
How many apartment buildings has the LAAA Team sold?
455+ transactions totaling over $1.45B+ in sales volume since 2013, across 140+ neighborhoods in Los Angeles County and beyond.
What neighborhoods does the LAAA Team cover?
All of Los Angeles County with particular depth in the San Fernando Valley, Hollywood, Koreatown, Echo Park, Silver Lake, the Westside, Glendale, Pasadena, Burbank, South LA, and the South Bay.
