Units: 62 · Sale price: $10,950,000 · Price per unit: $176,612 · Closed: November 2015
A 62-unit larger multifamily property at 12569 Van Nuys Blvd in Pacoima, sold November 2015 for $10,950,000 — approximately $176,612 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.
Pacoima is northern Valley LA City inventory, predominantly pre-1978 RSO, value-add oriented.
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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