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December 15, 2017
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LOS ANGELES COUNTY NEWS
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San Fernando Valley Multifamily Comp Comes in at $237k/Unit

12/07/17

A private investor paid $9.73 mil for The Nordhoff Forty One, a 41-unit ($237k/unit) multifamily building in the northern San Fernando Valley community of Panorama City. The property is located at 14668 Nordhoff St, east of the 405 Fwy near Van Nuys Blvd.

Built in 1990, the non-rent control asset is comprised of predominately larger 2+2 units with some modernization already in-place. The property offers the buyer an opportunity to add value through additional improvements in an LA submarket demonstrating increasing demand for quality housing.

Chris Thompson, David Leibowitz and Matt Sillaman with IREA represented both parties in the transaction.




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