Palms Multifamily Broker
Apartment Building Sales & Advisory in Palms
Ben Lewin specializes in the sale of multifamily and apartment buildings throughout Palms and the surrounding Westside.
As a Director Investments with Marcus & Millichap, Ben advises apartment building owners on property valuations, disposition strategy, 1031 exchanges, buyer demand and current market conditions throughout Palms.
Recent Palms Multifamily Sales
Ben Lewin has represented multifamily transactions throughout Palms and the surrounding Westside, working with apartment owners and investors across a range of property sizes and investment profiles.
Selected Palms transactions include:
2035 Chariton St
18 Units | Palms
Sold for $4,400,000
3755 Vinton Ave
9 Units | Palms
Sold for $2,950,000
Additional Palms and Westside multifamily transactions can be viewed on the Track Record page.
Palms Multifamily Market
Palms is one of the Westside’s most active multifamily neighborhoods, supported by strong renter demand, proximity to Culver City, access to major employment centers and convenient transportation throughout West Los Angeles.
Apartment building values are influenced by location, unit mix, existing rents, property condition, operating expenses, rent-control regulations and the amount of future rental upside available to an investor.
Ben Lewin works with Palms apartment owners to evaluate current market value, understand recent comparable sales and determine how active buyers are underwriting properties in today’s market.
Palms Multifamily FAQ
How do I determine the value of my Palms apartment building?
The value of a Palms multifamily property depends on factors including current rents, unit mix, location, property condition, operating expenses, rent-control restrictions, recent comparable sales, financing conditions and current investor demand.
A property-specific valuation should account for both the existing income and the future upside available to a buyer.
How do Los Angeles rent control laws affect Palms apartment building values?
Palms apartment buildings may be subject to the City of Los Angeles Rent Stabilization Ordinance (RSO) and/or California’s Tenant Protection Act of 2019 (AB 1482).
The RSO generally applies to many rental properties in the City of Los Angeles built on or before October 1, 1978, and regulates allowable rent increases and certain eviction requirements.
AB 1482 generally applies to many California rental properties that are more than 15 years old and are not otherwise exempt or subject to a more protective local rent-control ordinance. It generally limits annual rent increases to 5% plus inflation or 10%, whichever is lower, and includes just-cause eviction protections.
These regulations can affect apartment building values because they influence existing rents, future rent growth, tenant turnover assumptions and the amount of value-add potential available to an investor.
Who is buying apartment buildings in Palms?
Palms attracts local apartment owners, private investors, family offices, 1031 exchange buyers and investors seeking exposure to a centrally located Westside rental market.
Buyer demand is often strongest for properties with attractive existing income, meaningful rental upside, value-add potential or strong access to Culver City and other major Westside employment centers.
What do buyers look at when underwriting a Palms apartment building?
Buyers typically evaluate current rents, market rents, operating expenses, unit mix, property condition, rent-control status, recent comparable sales, cap rate, gross rent multiplier, price per unit and price per square foot.
They also consider financing costs, future rental upside, proximity to Culver City and access to transportation and employment centers throughout the Westside.
Why do multifamily investors target Palms?
Palms offers a central Westside location, strong renter demand and convenient access to Culver City, West Los Angeles and surrounding employment centers.
Its mix of older apartment stock and well-located multifamily properties can create opportunities for both long-term investors and buyers seeking value-add potential.
Should I get a property valuation even if I am not ready to sell?
Yes. An updated valuation can help an owner understand current equity, recent comparable sales, buyer demand and how the property is positioned in the market.
Many owners request valuations simply to stay informed, evaluate refinancing or estate-planning decisions, consider a future 1031 exchange or determine whether current market conditions make a sale worth exploring.
How does a 1031 exchange work when selling a Palms apartment building?
A 1031 exchange may allow an investor to defer capital gains taxes by selling an investment property and reinvesting the proceeds into another qualifying investment property.
The process is highly time-sensitive, so owners considering an exchange should coordinate early with their tax advisor, qualified intermediary and real estate professionals.
Why Work With Ben Lewin
Ben Lewin specializes in multifamily investment sales throughout Palms and Los Angeles' Westside.
Through Marcus & Millichap, Ben combines local market knowledge with broad exposure to active private investors, 1031 exchange buyers and multifamily owners throughout Southern California.
His approach is focused on accurate pricing, targeted marketing, competitive buyer outreach and helping owners make informed decisions based on current market conditions.
What Is Your Palms Apartment Building Worth?
Request a confidential property valuation and current market analysis for your Palms multifamily property.