Ron Black Purchases Multifamily Property From Hunter West For $3.5 Million In Van Nuys

The asset involved in this transaction is a multifamily property located at 6716 Sylmar Avenue, Van Nuys. The sale price for the property was $3,500,000, and it consists of 12 units, with a price per unit of $291,666. The total square footage of the building is 9,996, translating to a price per square foot of $350. This property is noted as a non-RSO property and was built in 1984.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,500,000
• Units: 12
• Price Per Unit: $291,666
• Square Footage: 9,996
• Price Per Square Foot: $350
• Buyer: Ron Black
• Seller: Hunter West
• Buyer's Representative: Rick Raymundo & Philip Rodgers - Los Angeles County Multifamily - Marcus & Millichap
• Seller's Representative: Filip Niculete & Glen Scher - LAAA Team - Marcus & Millichap
• Note: Generated 5 Total Offers
• Financing Source: MMCC Sourced Financing
• Seller Exchange: into DST

This transaction involved key individuals from the Marcus & Millichap brokerage, with Rick Raymundo and Philip Rodgers representing the buyer, and Filip Niculete and Glen Scher representing the seller. The competitive nature of the deal is highlighted by the five total offers generated, indicating strong interest in the property.