6503 Woodman Ave, Van Nuys — 5-Unit Multifamily, $1.1M (Jan 2022)
Updated April 28, 2026
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 repricing that would define 2023.
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.
Small multifamily properties in this range trade primarily among private investors, family offices, and 1031 exchangers.
Set against the rest of the Van Nuys record, this is the 11th largest of the 12 Van Nuys apartment buildings Michael Sterman has closed.
At $222,000 a unit it sits above the Van Nuys median of $171,801, which is the ordinary pattern for a building of this size: at 5 units it is smaller than the median Van Nuys closing at 34, and smaller buildings carry higher per-door pricing.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Van Nuys
- Van Nuys: the neighborhood, its buildings and what they sell for
- How to Sell a Multifamily Property in Los Angeles
- Request a free evaluation of your building
- Verify this sale independently — search public records and coverage for this transaction yourself
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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