Roy Hasson Acquires Multifamily Property In San Fernando Valley For $14.2M

Located in the San Fernando Valley, a multifamily property at 15716 Saticoy St. has been sold in a record-breaking sale. The transaction, which took place on 12/09/2021, involved a total of 42 units with a sale price of $14,200,000. This amounts to a price per unit (PPU) of $338,095 and a gross rent multiplier (GRM) of 14.90x. The property spans across 31,178 square feet, resulting in a price per square foot (PPSF) of $455. With a cap rate of 4.24%, this deal has made history in Van Nuys, 91406 as the highest price per square foot ever achieved for more than 16 units and the highest price per unit ever reached in the 16-100 unit category. The property was built in 1986 and underwent renovations in 2019. This exceptional deal generated multiple offers, demonstrating its desirability and market demand.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $14,200,000
• Address: 15716 Saticoy St.
• Market: San Fernando Valley

The buyer in this sale was Roy Hasson, while the seller was Brian Wirtz. The transaction was facilitated by the Marcus & Millichap LAAA Team, represented by brokers Filip Niculete and Glen Scher. Their expertise and negotiation skills played a crucial role in finalizing this historic deal in Van Nuys. This successful transaction highlights the significant role that real estate professionals, such as Filip Niculete and Glen Scher, play in bringing buyers and sellers together to achieve exceptional results.

NOTE FROM @laaateam: This sale has set new records for the Van Nuys market, achieving the highest price per square foot for properties with more than 16 units and the highest price per unit in the 16-100 unit category. This remarkable achievement underscores the strong demand and value of multifamily properties in the area. The record-breaking sale of the property at 15716 Saticoy St. showcases the ability of the Marcus & Millichap LAAA Team to deliver outstanding results for their clients.