5917 Buffalo Ave, Van Nuys

the successful closing of 5917 Buffalo Avenue, a five-unit apartment building in Van Nuys, which sold for $1,645,000.

Originally listed on July 21, 2025 at $1,800,000, the property generated strong early interest. To spark urgency in a market where many investors were waiting for rate cuts, we reduced the price by $100,000 just two weeks into the campaign. This strategic adjustment created immediate momentum, which resulted in two property tours and produced three competitive offers from local first-time multifamily investors.

The sellers, who had lived at the property for more than 30 years, decided to retire following the passing of a sibling who also resided on-site. Their goals were clear: transition from being a landlord and property manager, cash out of ownership, and stay a tenant all while closing by the end of September to take advantage of a favorable step-up in basis. A unique aspect of this deal was finding not only a buyer, but a buyer willing to become the sellers’ new landlord, allowing them to remain in the property as tenants for another year.

We delivered on all fronts, securing an all-cash buyer who opened escrow on August 29 and closed just 21 days later, on September 19, 2025. From list to close, the entire process was completed in exactly 60 days.

Rates have begun to ease, buyers are returning to the table, and many investors are pushing to close before year-end for tax planning and depreciation purposes. We are seeing this momentum firsthand across deals as the market continues to improve.

If you’re looking to buy or sell an apartment building in today’s evolving market, or just curious as to what your building could be worth today, contact the LAAA Team to discuss how we can help you achieve your investment goals.