Units: 7 · Sale price: $730,000 · Price per unit: $104,285 · Closed: November 2012
A 7-unit small multifamily property at 13415 Victory Boulevard in Van Nuys, sold November 2012 for $730,000 — approximately $104,285 per unit.
In 2012, LA multifamily transaction volume was rebuilding from the post-2008 trough. Cap rates were beginning to compress as institutional capital returned to the asset class.
Van Nuys LA multifamily trades bimodally — stabilized Class B and value-add Class C often trading at meaningfully different cap rates depending on the specific asset story.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
This transaction is part of the Sterman Multifamily Group closed archive — $1.41 billion across 254 closed transactions over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
$1.41 billion across 254 closed transactions.
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