Units: 68 · Sale price: $7,650,000 · Price per unit: $112,500 · Closed: October 2012
A 68-unit larger multifamily property at 15111 Archwood Street in Van Nuys, sold October 2012 for $7,650,000 — approximately $112,500 per unit.
In 2012, LA multifamily transaction volume was rebuilding from the post-2008 trough. Pricing was beginning to firm as institutional capital returned to the asset class.
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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