The Lowest Offer Won: Fifteen Van Nuys Townhomes and a Price Cut That Worked
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The LAAA Team of Marcus & Millichap is proud to announce the successful closing of 13915 Sherman Way, a 15-unit townhouse-style apartment community in Van Nuys, which sold for $3,400,000 and recorded on August 28, 2026. Our team represented the seller and procured the buyer. The closing completes a three-building Van Nuys estate portfolio, 34 units in all, sold across four months.
This building had not been offered for sale in more than 30 years. The seller was a family trust, and 13915 Sherman Way was the largest of three apartment buildings it held within a three-mile radius of one another, alongside 6034 Fulton Avenue and 6860 Woodley Avenue. Built in 1989 on the Sherman Way transit corridor, the property is unusual for the Valley in its unit mix. Twelve of the fifteen units are two-story townhomes of roughly 1,100 square feet with 2.5 bathrooms, and three are one-bedroom flats. A community pool, on-site laundry and a 28-space parking garage round out 16,144 rentable square feet on a 13,998 square foot lot. Because it was completed in 1989, the property sits outside the Los Angeles Rent Stabilization Ordinance and is governed only by California's AB 1482, so units reset at turnover without rent board oversight. The site carries TOC Tier 1 status, and the federally funded East San Fernando Valley Light Rail station is planned about half a mile east.
The first decision was how to sell it. Three buildings, three different sizes, one owner. We could have run three separate campaigns, or we could put the whole estate in front of the market at once as a single 34-unit Van Nuys offering and let buyers self-select into the piece they wanted. We chose the portfolio. It gave a 15-unit building the audience of a 34-unit one, and it let a buyer who came for Woodley discover Sherman Way on the same page.
Then we built it. The valuation went from first request to approved layout in twelve days, through two rounds of financial analysis. The offering memorandum followed over the next two weeks, again through two analysis revisions. We opened title with two companies inside a day of being awarded the listing so the preliminary report would be in a buyer's hands the moment one asked, and we had the due diligence index built and populated before the first email went out.
The campaign itself ran six sends to 72,801 inboxes. On CoStar the listing drew 21,607 views from 4,262 unique prospects across the marketing period. Crexi surfaced 50 additional leads in the first week. Twenty-seven outside investors registered and downloaded the offering memorandum directly from laaa.com, each one a named contact we could follow. Within a week of launch the portfolio had drawn seven offers.
The LAAA Team of Marcus & Millichap is proud to announce the successful closing of 13915 Sherman Way, a 15-unit townhouse-style apartment community in Van Nuys, which sold for $3,400,000 and recorded on August 28, 2026. Our team represented the seller and procured the buyer. The closing completes a three-building Van Nuys estate portfolio, 34 units in all, sold across four months.
This building had not been offered for sale in more than 30 years. The seller was a family trust, and 13915 Sherman Way was the largest of three apartment buildings it held within a three-mile radius of one another, alongside 6034 Fulton Avenue and 6860 Woodley Avenue. Built in 1989 on the Sherman Way transit corridor, the property is unusual for the Valley in its unit mix. Twelve of the fifteen units are two-story townhomes of roughly 1,100 square feet with 2.5 bathrooms, and three are one-bedroom flats. A community pool, on-site laundry and a 28-space parking garage round out 16,144 rentable square feet on a 13,998 square foot lot. Because it was completed in 1989, the property sits outside the Los Angeles Rent Stabilization Ordinance and is governed only by California's AB 1482, so units reset at turnover without rent board oversight. The site carries TOC Tier 1 status, and the federally funded East San Fernando Valley Light Rail station is planned about half a mile east.
The first decision was how to sell it. Three buildings, three different sizes, one owner. We could have run three separate campaigns, or we could put the whole estate in front of the market at once as a single 34-unit Van Nuys offering and let buyers self-select into the piece they wanted. We chose the portfolio. It gave a 15-unit building the audience of a 34-unit one, and it let a buyer who came for Woodley discover Sherman Way on the same page.
Then we built it. The valuation went from first request to approved layout in twelve days, through two rounds of financial analysis. The offering memorandum followed over the next two weeks, again through two analysis revisions. We opened title with two companies inside a day of being awarded the listing so the preliminary report would be in a buyer's hands the moment one asked, and we had the due diligence index built and populated before the first email went out.
