You don't have
to sell now
Start by finding out what your building is worth today. The valuation is free, and the fact that you contacted us stays private.
Inquiries are fully confidential
When word gets out that an owner is considering a sale, it unsettles tenants and the surrounding market. We don't share the fact that you reached out with anyone.
Nothing goes to market until you decide to list. Even then, how widely and in what form the property is exposed remains your decision.
What a valuation looks at
Rent roll
The gap between in-place and market rent, unit by unit. That gap is the upside a buyer is underwriting — and it is the price.
Operating expenses
Actual recent spending, organized. Where costs can be reduced, adjusting before a sale often works in your favor on price.
Rent regulation status
Whether the RSO applies, and each unit's history, changes a buyer's math. Documenting this up front reduces price chipping during due diligence.
Comparables
What has actually traded recently in the same corridor, and on what terms.
Why Total Commercial
Past performance does not guarantee future results.
We know this local market
Los Angeles — Koreatown, Hollywood, and the surrounding submarkets — is where we actually transact. Over the most recent 10+ years, 40+ disclosed transactions totaling $138.1M, more than half of them in this corridor. We know rent levels and building histories block by block.
We reach both buyer pools
This corridor trades across two buyer pools, and most brokers only reach one of them. Korean and Korean-American capital acquires here as a matter of course, alongside local English-speaking investors — and we work both sides in both languages. For a seller that means a wider field of real buyers, and a deal that doesn't stall on translation, escrow instructions, or a rent roll nobody can read.
And after the sale
If the buyer wants it, we handle management ourselves. Fewer problems find their way back to you after closing.
CA DRE Broker Lic. #01443223 · California Association of REALTORS® · The MLS / CLAW · LoopNet
The tax on the sale — Measure ULA
Selling real property in the City of Los Angeles triggers the Measure ULA transfer tax on top of the existing city transfer tax of 0.45%. It is called a “mansion tax,” but apartment buildings are squarely within it.
| Sale price | ULA rate |
|---|---|
| $5,400,000 to just under $10,900,000 | 4% |
| $10,900,000 and above | 5.5% |
It applies to the entire sale price, not just the portion above the threshold. The thresholds are indexed to inflation and adjust each July 1.
For closings on or after July 1, 2026 · Source: City of Los Angeles Office of Finance · Verify at the source
What actually reduces or removes it
The following is drawn from the City's own published rules. Whether any of it applies to you is a question for your tax advisor and attorney — not for a broker.
A 1031 exchange does not avoid ULA
This is the most common misconception. ULA is a transfer tax, not an income tax. It is due at the close of escrow whether or not you exchange. What an exchange defers is capital gains tax, nothing else.
One practical point does matter: transfer taxes are transactional costs and may be paid from exchange funds without triggering constructive receipt (Treas. Reg. §1.1031(k)-1(g)(7)). Paying ULA out of exchange proceeds will not disqualify the exchange or create boot.
Just above a threshold is a losing band
Because the tax applies to the whole price, a sale slightly above a threshold nets you less than a sale just below it. This is arithmetic, not strategy.
- $5,400,000 to $5,625,000 — a sale in this band nets you less than a sale at $5,400,000
- $10,900,000 to $11,073,016 — a sale in this band nets you less than a sale at $10,900,000
Know where that band sits before you set a price. Price below the threshold or above the break-even — landing inside it is the one outcome with nothing to recommend it.
Some buyers are exempt
Transfers to qualified purchasers defined by the ordinance are exempt. Approval runs through the Los Angeles Housing Department in advance.
- 501(c)(3) nonprofits with a history of affordable housing development or management, Community Land Trusts, and Limited-Equity Housing Cooperatives
- LPs and LLCs where such an entity is the general partner or managing member
- 501(c)(3) entities holding an IRS determination letter for at least ten years with under $1 billion in assets — affordable housing work not required
- Federal, state, and local government entities
What this means for a seller: a lower offer from an exempt buyer can put more in your pocket than a higher offer from a taxable one. Compare net, not headline.
Outside the city limits it does not apply
ULA reaches only property within the City of Los Angeles. Unincorporated county areas and neighboring cities are outside it — though some, such as Santa Monica and Culver City, levy transfer taxes of their own.
If you hold more than one building, which one you sell first changes the after-tax result.
The thresholds rise every July 1
They are indexed to inflation; at adoption in April 2023 they were $5M and $10M. If your price sits near the line, timing itself is a variable.
Who pays it is negotiable
Custom in Los Angeles puts transfer tax on the seller, but that is convention, not law. On a property with competing offers it is a term worth putting on the table.
For closings on or after July 1, 2026 · Source: City of Los Angeles Office of Finance · Office of Finance · LAHD exemption rules
This is general information and is not tax or legal advice. Rules change and application depends on your own circumstances. Confirm with a tax professional and attorney before acting.
We work with outside brokers
Already listed with another agent? That is fine. We represent buyers into this corridor and we pay a full cooperating share.
If you are a listing broker looking for the right buyer for a building here, call us. These properties often match without ever being widely exposed.
Selling may not be the answer
We will lay out selling now against continuing to hold, side by side, and look at moving into another asset through a 1031 exchange. Sometimes our conclusion is that you are better off holding.
Request a free valuation
Just the address, unit count, and current rental situation. A rent roll makes it more precise.
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