$1.41 billion across 254 closed transactions. 14 LA submarkets. This is what Michael Sterman actually knows — published, indexed, and updated.
The December 2025 Council vote changes the math on every pre-1978 LA City building. What buyers are pricing in right now, and what it means if you are considering a sale.
The three forces converging in 2026, the four mistakes sellers make, and the signals in your own building that tell you whether it is time.
The state of the market, submarket-by-submarket. What changed from 2025. Who is buying. The outlook.
Estimate your building's current market value using Q1 2026 submarket cap rate data.
Fifteen questions. A readiness score and three action items before you list.
Capital gains, depreciation recapture, and the net tax benefit of an exchange.
Calculate the rent control discount on your building's sale value.
Five-year hold projection vs. sell-now proceeds. Break-even appreciation.
The complete tentpole guide to timing, pricing, and the process.
The four variables that decide, with the 2026-specific math.
The four traps, the 45/180-day clock, the replacement hunt.
The three-test framework for buyers — which every seller should also read.
If your basis is 20+ years below market value, a 1031 exchange may be the difference between keeping the equity and writing a seven-figure check to the IRS. The mechanics do not care about your intentions. They care about your calendar.
14 submarkets, color-coded by institutional demand. Cap rates, price per unit, days on market, and Michael's take on each.
Every law affecting LA multifamily. RSO, AB 1482, Costa-Hawkins, Ellis, Prop 13, and the 2024–2026 scorecard.
Executive summary, submarket breakdown, legislation impact, buyer pool analysis, outlook.
Every term a multifamily seller will encounter — defined the way a broker with $1.41B / 254 closed deals actually uses them.