Units: 4 · Sale price: $1,150,000 · Price per unit: $287,500 · Closed: May 2021
A 4-unit small multifamily property at 13838 Vanowen St in Van Nuys, sold May 2021 for $1,150,000 — approximately $287,500 per unit.
2021 was LA multifamily's cyclical peak. Pricing compressed aggressively across submarkets. Transaction volume reached approximately 1,200 deals — the highest in over a decade.
Van Nuys LA multifamily trades bimodally — stabilized Class B and value-add Class C often trading at meaningfully different prices 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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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