Units: 30 · Sale price: $5,450,000 · Price per unit: $181,666 · Closed: December 2016
A 30-unit larger multifamily property at 14949 Vanowen St in Van Nuys, sold December 2016 for $5,450,000 — approximately $181,666 per unit.
2016 was mid-cycle for LA multifamily. Cap rates had compressed meaningfully from post-2008 highs. Pricing was strong across stabilized inventory.
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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