Tony Azzi & Kristen Sullivan Of Marcus & Millichap Close $9M Multifamily Sale In Van Nuys

This multifamily property, located at 6121 Woodman Avenue in Van Nuys, has been sold for $9,000,000. The building consists of 45 units across a total area of 38,766 square feet, offering a price per unit of $200,000 and a price per square foot of $232. It was built in 1970 and sits on a 35,910-square-foot lot, providing potential for approximately 37% rental upside, complemented by its proximity to major freeways including the 405, 101, and 170.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,000,000
• Units: 45
• Price Per Unit: $200,000
• Square Footage: 38,766
• Price Per Square Foot: $232
• Cap Rate: 5.66%
• Broker Representatives: Tony Azzi & Kristen Sullivan - Marcus & Millichap

The Azzi Group effectively facilitated the transaction, representing both the buyer and seller, showcasing their expertise in the multifamily market during this sale.