15716 Saticoy St, Van Nuys

The LAAA Team of Marcus & Millichap is proud to announce the successful closing of this 42-unit multifamily property located at 15716 Saticoy Street, Van Nuys, CA, in the Lake Balboa neighborhood.

Record Breaking Sale

According to CoStar's all-time sale statistics in the 91406 area code of Van Nuys, this sale has taken over the top spot for the all time highest price per sqft ever achieved for a 16+ unit apartment building. It is also the #1 highest price per unit ever achieved when looking at sold buildings that had between 16 and 100 units.

Including both small and very large property sale statistics (5-15 unit & 100+ unit buildings), this is the #2 all-time highest price per sqft and the #3 all-time highest price per unit ever achieved in this zip code. No matter how you look at it, we can fairly say this is one of the best multifamily sales ever achieved in this pocket of Van Nuys.

Property Description

This 42-unit property, built in 1986, sits on a very large 1.05 acre lot with 5 separate buildings on it, and is located on the corner of Saticoy Street and Haskell Avenue. This 42-unit multifamily offering has (41) 2-story townhome units and (1) standard flat unit , and it presents a great unit mix of (30) 1 Bed / 1 Bath units and (12) 2 Bed / 2 Bath units, with the average unit size being approximately 750 square feet. In 2019, the Seller installed washer & dryers into all 42 units (with permits) and completely renovated 31 of the 42 units (74% of the units are renovated). Furthermore, all of the units come with their own wall A/C unit, a personal balcony or patio, carpeted and hardwood floors, walk-in closets, ceiling fans, cable and satellite ready, vertical blinds, and stocked with a full suite of modern appliances. Also, the property does not need any soft story retrofitting, saving the buyer a large cost that many other buildings throughout Los Angeles need.

Marketing Spotlight- Email Database

If you have been following our emails over the years (and especially this year with 52 closings and $200M in sales volume year-to-date), you may have noticed that we frequently mention our "unmatched" database of verified principals and brokers in LA who buy or sell multifamily properties, and why this organically grown database helps us achieve great prices for our sellers in a short period of time. This has been especially evident this year with many of our closings breaking all-time records (this is our 6th closing this year that broke a record),...