6727 Orion Ave

The successful sale of 6727 Orion Avenue in Van Nuys, CA.

Property Overview

Situated on nearly an acre of land, this multifamily offering is comprised of 5 detached homes on one lot, all of which have their own private, fenced-off yard. This offering has a great unit mix of homes with (1) 1 Bed / 1 Bath + Den house, (2) 2 Bed / 1 Bath homes, (1) 3 Bed / 1 Bath house, and in front there is a large 1,700+ sqft 3 Bed / 2 Bath house with a private gate, front yard, and pool in the back. In total, there is 5,624 square feet of building between the homes, making the average house 1,125 square feet, and these homes range from 800 square feet to 1,700+ square feet.

Record Breaking Sale - Highest Price/Unit in Van Nuys

Although we will be the first to admit that this multifamily property is more unique than a standard 5 unit apartment building because each unit is a separate house, we still believe this sale's impressive $415,402 per unit is worth mentioning. In fact, this is the first rent-controlled multifamily building in all of Van Nuys to sell for more than $400,000 per unit. Only 4 other rent controlled buildings that we could find on CoStar have sold for more than $300,000 per unit. Interestingly, the top 4 price/unit sales ever were all from properties that closed escrow this year. If you're thinking about selling a building yourself, this graphic suggests we are at the top of the market.