Units: 50 · Sale price: $10,875,000 · Price per unit: $217,500 · Closed: October 2017
A 50-unit larger multifamily property at 13907 Oxnard St in Van Nuys, sold October 2017 for $10,875,000 — approximately $217,500 per unit.
2017 LA multifamily pricing approached cycle peaks. Buyer discipline was tightening on value-add deals even as top-line pricing continued to advance.
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.
Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.
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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