Marcus & Millichap Sells Van Nuys Multifamily Property For $2.69M

A multifamily property located at 14019 Vanowen St in Van Nuys has been sold for a price of $2,690,000. The property spans across 7,840 square feet, resulting in a price per square foot of $343.07. With a total of 5 units, the price per unit stands at $538,000. The transaction represents a capitalization rate of 5.05% and a gross rent multiplier of 12.88.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,690,000
• Square Footage: 7,840
• Price per Square Foot: $343.07
• Number of Units: 5
• Price per Unit: $538,000
• Capitalization Rate: 5.05%
• Gross Rent Multiplier: 12.88

The sale of this property was facilitated by Filip Niculete, Glen Scher & Lonnie McDermott, who represented the parties involved in the transaction. They are associated with Marcus & Millichap, a respected brokerage firm.