Delano Property Acquires Van Nuys Multifamily For $1.76M From Seller 10717 Boomfield LLC

The multifamily property located at 14837 Delano St in Van Nuys was recently sold for $1,762,500. The property, built in 1964, offers a total of 6,489 square feet of space and consists of 8 units. With a price per square foot of $271.61 and a price per unit of $220,313, the property attracted multiple offers. The sale was facilitated by brokers Sam Liberow, Arash Memary, Glen Scher, and Filip Niculete, representing Delano Property as the buyer and 10717 Boomfield LLC as the seller.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,762,500
• Address: 14837 Delano St
• Market: Van Nuys
• Square Footage: 6,489
• Price per Square Foot: $271.61
• Units: 8
• Price per Unit: $220,313
• Buyer: Delano Property
• Seller: 10717 Boomfield LLC
• Brokers: Sam Liberow, Arash Memary, Glen Scher, Filip Niculete

In addition to the property's features, it is worth noting that the seller will be exchanging the proceeds to Denver. The property also presents a value-add opportunity and has a bike score of 82. Given the seismic retrofit required, buyers may have seen potential in improving the property to increase its value.