Van Nuys Apartment Building Sales

Van Nuys Multifamily Market Overview

Van Nuys is the most active multifamily investment market in the entire Los Angeles metro area, anchoring the central San Fernando Valley along Van Nuys Boulevard, Sherman Way, and Victory Boulevard. Across 43 closed transactions totaling $119.7M in sales volume, the LAAA Team has documented an average price per unit of $248,000 across its 39 apartment sales, and an average cap rate of 4.91% across the 38 of those with a rate recorded.

The Van Nuys Boulevard commercial corridor from Roscoe Boulevard south to Victory Boulevard contains the densest concentration of apartment buildings in the Valley, with 1960s and 1970s garden-style complexes ranging from 8 to 40+ units. These buildings, predominantly Type V wood-frame construction with surface parking and courtyard layouts, represent the core of LA's workforce housing inventory. The Metro G Line (Orange Line) busway along Victory Boulevard and planned future rail conversion provide transit connectivity to North Hollywood's Metro B Line station and Warner Center.

Value-add strategies in Van Nuys center on interior renovations (kitchen, bath, flooring) to capture $200-$400 per month rent premiums, with renovation costs typically running $15,000-$25,000 per unit. Most Van Nuys apartment buildings fall under the LA RSO for pre-1978 construction. The neighborhood's combination of below-market rents, strong occupancy, and accessible pricing makes it the entry point of choice for first-time multifamily investors and experienced operators seeking scale in the Valley.

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