Units: 44 · Sale price: $7,500,000 · Price per unit: $170,454 · Closed: December 2015
A 44-unit larger multifamily property at 14024 Oxnard St in Van Nuys, sold December 2015 for $7,500,000 — approximately $170,454 per unit.
By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of submarkets.
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.
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 — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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