Homa Mashian Partovi Acquires Multifamily Property In Van Nuys For $2.08M

The multifamily property located at 6727 Orion Ave. in Van Nuys has been sold in a closed transaction. The sale, which took place on June 10, 2022, involved a total of 5 units with a sale price of $2,077,011. The price per unit was approximately $415,402, and the total square footage of the property was 5,624, resulting in a price per square foot of $369. The buyers of the property were Homa Mashian Partovi, while the sellers were David Frisch and Janis Frisch.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,077,011
• Address: 6727 Orion Ave., Van Nuys
• Market: Van Nuys
• Units: 5
• Price per Unit: $415,402
• Square Footage: 5,624
• Price per Square Foot: $369

The brokers involved in the deal were Glen Scher and Filip Niculete from Marcus & Millichap's LAAA Team, as well as Nima Tehrany from Compass. This all-cash transaction was completed swiftly, with 3 offers generated within 3 days. From the start of the listing to the close of escrow, only 24 days elapsed. Glen Scher and Filip Niculete noted that this sale set a new record price per unit in Van Nuys.