Units: 5 · Sale price: $1,110,000 · Price per unit: $222,000 · Closed: January 2022
A 5-unit small multifamily property at 6503 Woodman Ave in Van Nuys, sold January 2022 for $1,110,000 — approximately $222,000 per unit.
2022 LA multifamily held at peak pricing through mid-year, then began the rate-driven cap rate expansion that would define 2023.
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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