Units: 10 · Sale price: $1,460,000 · Price per unit: $146,000 · Closed: August 2015
A 10-unit mid-size multifamily property at 6823-6827 Hayvenhurst Ave in Van Nuys, sold August 2015 for $1,460,000 — approximately $146,000 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 cap rates depending on the specific asset story.
Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.
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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