Press Releases
Marcus & Millichap Brokers $9.5M Sale of 30-Unit Multifamily Property in Van Nuys, California
August 03, 2026
VAN NUYS, Calif., July 30, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 7203 Rubio Ave., a 30-unit multifamily property in Van Nuys, California. The property sold for $9.5 million or $316,667 per unit. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, secured $6,223,000 in acquisition financing.
“Bringing this property to market for the first time since its construction in 2013 generated significant investor interest,” said Neema Ahadian, senior managing director investments. “After a disciplined marketing process that included eight property tours and five competitive offers, we identified a qualified buyer who performed without requesting price reductions or credits in escrow. The transaction reflects continued demand for well-located, newer-vintage multifamily properties that are not subject to the Los Angeles Rent Stabilization Ordinance.”
Ahadian and Leonardo Laterza, investment specialists in Marcus & Millichap’s Los Angeles office, had the exclusive listing to market the property on behalf of the seller, a local developer, and procured the buyer, a local private investor.
Danny Abergel, executive managing director, capital markets, based in the firm’s Los Angeles office, secured a 5-year loan at 67 percent loan-to-value with a national bank on behalf of the buyer. Additional terms include a competitive interest rate and a 30-year amortization period.
Built in 2013, the 32,777-square-foot property sits on a 0.54-acre parcel at 7203 Rubio Ave. in the Lake Balboa neighborhood of Los Angeles' San Fernando Valley. The property includes 29 apartment units and one leased office space with a unit mix of nine one-bedroom units, 10 two-bedroom units and 10 three-bedroom units. Amenities include 53 gated parking spaces, electric vehicle charging stations and separately metered utilities. The property is near the 405 and 101 freeways, providing convenient access to employment centers, retail and dining throughout the San Fernando Valley.
“Bringing this property to market for the first time since its construction in 2013 generated significant investor interest,” said Neema Ahadian, senior managing director investments. “After a disciplined marketing process that included eight property tours and five competitive offers, we identified a qualified buyer who performed without requesting price reductions or credits in escrow. The transaction reflects continued demand for well-located, newer-vintage multifamily properties that are not subject to the Los Angeles Rent Stabilization Ordinance.”
Ahadian and Leonardo Laterza, investment specialists in Marcus & Millichap’s Los Angeles office, had the exclusive listing to market the property on behalf of the seller, a local developer, and procured the buyer, a local private investor.
Danny Abergel, executive managing director, capital markets, based in the firm’s Los Angeles office, secured a 5-year loan at 67 percent loan-to-value with a national bank on behalf of the buyer. Additional terms include a competitive interest rate and a 30-year amortization period.
Built in 2013, the 32,777-square-foot property sits on a 0.54-acre parcel at 7203 Rubio Ave. in the Lake Balboa neighborhood of Los Angeles' San Fernando Valley. The property includes 29 apartment units and one leased office space with a unit mix of nine one-bedroom units, 10 two-bedroom units and 10 three-bedroom units. Amenities include 53 gated parking spaces, electric vehicle charging stations and separately metered utilities. The property is near the 405 and 101 freeways, providing convenient access to employment centers, retail and dining throughout the San Fernando Valley.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
