Shawn Tavakoli Acquires 7-Unit Multifamily In Van Nuys For $2.5M

Located at 6616 Sylmar Ave in Van Nuys, this multifamily property has recently been sold for $2,500,000. The transaction took place on October 27, 2021. The property consists of 7 units with a total area of 7,210 square feet. The price per unit was approximately $357,142, and the price per square foot was $346. The Gross Rent Multiplier (GRM) for this property is 15.50x, and the Capitalization Rate (CAP) is 4.19%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,500,000
• Address: 6616 Sylmar Ave, Van Nuys
• Market: Van Nuys
• Buyer: Shawn Tavakoli
• Seller: Richard Fuchs
• Broker: Filip Niculete, Glen Scher & Jordan Epstein (LAAA Team) - Marcus & Millichap

The sale of this property generated multiple offers and closed at the list price. It took only 48 hours after the announcement of the listing for the property to be sold. The property, built in 1994, offers 7 units and is located in the Van Nuys area.

Additional selling numbers include a 4.19% CAP and a 15.50 GRM. The price per unit was $357,142, and the price per square foot was $347.