Fred Bibayan Acquires Multifamily Asset From Clyde Berkus In Van Nuys For $3.4M

The property asset involved in this transaction is a multifamily unit located at 13915 Sherman Way in the Van Nuys market. The sale price was $3,400,000 for a total of 15 units, which translates to a price per unit of $226,666. The total square footage of the property is 16,144 SF, resulting in a price per square foot of $210.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,400,000
• Units: 15
• Price Per Unit: $226,666
• Square Footage: 16,144
• Price Per Square Foot: $210
• Buyer: Fred Bibayan
• Seller: Clyde Berkus
• Brokers: Glen Scher, Filip Niculete, Morgan Wetmore - LAAA Team; Josh Yaris, Ryan Rothstein-Serling & Martin Agnew - Agnew Serling Group - Marcus & Millichap

The LAAA Team and Agnew | Serling Group of Marcus & Millichap managed to successfully close this portfolio sale. They represented both the buyer and the seller in the transaction, which generated five written offers.