Van Nuys Apartment Complex Sold for $5 Million

An 18-unit apartment complex in Van Nuys has traded hands for $5 million, according to brokerage Marcus & Millichap. The complex at 14607 Calvert St. was sold by a private investor to AK Vesper, a limited liability entity. Jonathan Erster, associate, and Filip Niculete, vice president of investments at Marcus & Millichap’s Encino office, represented both the buyer and the seller in the transaction. The property has two stories of apartments over parking. It is located about one block east of Van Nuys Boulevard near the corner of Vesper Avenue. The price represents $277,777 per unit, or $350 a square foot.