Confidential Broker Opinion of Value | Marcus & Millichap, #1 in U.S. Multifamily Sales
Fernando Shahbaznia Portfolio
Two-Property, 69-Unit Los Angeles Multifamily Portfolio
69Total Units
2Properties
54,727Combined Building SF
1958 / 1988Year Built
Morgan Wetmore
Morgan Wetmore
Associate Investments
Glen Scher
Glen Scher
Co-Founder, LAAA Team
Filip Niculete
Filip Niculete
Co-Founder, LAAA Team

Prepared Exclusively for MSCO Corporation

September 2026

Portfolio Overview
Two-Property, 69-Unit Los Angeles Multifamily Portfolio
69Total Units
2Properties
$2,015,396Current Annual Rent
$1,239,771Current NOI

This portfolio comprises 2 apartment properties totaling 69 units. Each asset is valued independently on its own income, its own comparable set, and its own submarket, and each has a dedicated valuation page below.

The Properties

Terraces at the Lake
Terraces at the Lake
Van Nuys (Lake Balboa), CA 91406
52 units · 41,099 building SF · built 1988. Lake Balboa, 1988 Construction, Outside the RSO
View the full valuation ›
Gardens at La Crescenta
Gardens at La Crescenta
La Crescenta, CA 91214
17 units · 13,628 building SF · built 1958. La Crescenta, Foothill Submarket, Fully Occupied
View the full valuation ›
Portfolio Map
Team Track Record
Current Results, Local Market Experience, and Senior-Level Execution
LAAA Team | Marcus & MillichapLocal market knowledge. National reach. Senior-level execution.
494Closed Transactions
342Apartment Sales
$1.56BTotal Sales Volume
LAAA Portfolio Map
96.7%Apartment Pricing Accuracy
34Median Days on Market, Apartments

Published team performance, laaa.com/track-record, as of September 3, 2026.

A Track Record Built One Assignment at a Time

Of those closings, 342 are apartment sales covering 4,703 units. CoStar ranked LAAA the most active multifamily team in Los Angeles County from 2019 through 2021, and the team has not finished a quarter without a closed sale since it was founded.

Volume matters here for one reason: it is where the buyer list comes from. The buyer for this property is far more likely to be someone this team has already closed with than someone who finds it on a portal, and a team that closes every quarter is calling those people about something regardless.

The Team Behind the Assignment
Morgan Wetmore
Morgan Wetmore
Associate Investments
2025: Pace Setter Award, GRIT Award, Emerging Core Hustle Award. 2026: GRIT Award.
Glen Scher
Principal
Glen Scher
Co-Founder, LAAA Team
Senior Managing Director Investments and co-founder of the LAAA Team of Marcus & Millichap, specializing in Los Angeles apartment investment sales.
Filip Niculete
Principal
Filip Niculete
Co-Founder, LAAA Team
Senior Managing Director Investments and co-founder of the LAAA Team of Marcus & Millichap, specializing in Los Angeles apartment investment sales.
Key Achievements

Chairman's Club - Marcus & Millichap's top-tier annual honor
National Achievement Award - multiple years, both partners
#1 Most Active Multifamily Team in LA County - CoStar 2019-2021
Sales Recognition Award - every year since 2016
494 closed transactions - $1.56B in sales volume

As Featured In
How We Market Your Property
Position the Story, Reach the Market, and Work the Buyer List
23,500+Active Email Subscribers
36,000+Owner & Investor Contacts
60,000+Buildings Tracked
100+Targeted Buyer Calls

Our public, continuously maintained reach combines active email subscribers, owner and investor contacts, a building-owner database, and targeted direct buyer calls for each listing.

We are proactive marketers, not reactive.

The Campaign Plan

01

Targeted Buyer Outreach

Direct outreach and source-stamped digital exposure will focus on buyer groups most likely to pursue the property.

Multifamily Investment Sales, Brokerage Company Ranking
Closed apartment transactions, trailing twelve months through Q1 2026
Marcus & Millichap
1,415
CBRE
778
Keller Williams
455
Berkadia
398
Newmark
352
Compass
334
JLL
312
Colliers International
285
Cushman & Wakefield
278
RE/MAX
260

Source: Marcus & Millichap Research Services, CoStar Group, Real Capital Analytics, NICMap. © 2026 Marcus & Millichap.

Trailing twelve months through 1Q 2026. Apartment transactions include multifamily buildings of 5 units and greater, and sales of $1 million and greater in which the brokerage represented either the buyer or the seller. Deals double-ended by one brokerage count once. Rankings and reported numbers may change under other calculation methodologies.

48%of Marcus & Millichap buyers come from out of state
1.8xthe apartment transactions of the next firm, and more than the next two combined

Most brokers are reactive. They post the listing, run an email blast, and wait for the phone to ring. We do all of that, and we do it well. Then we do the part almost nobody does. We pick up the phone.

Before your building goes to market, our system builds a probable buyer list for it specifically. It pulls the county assessment record for every property in the surrounding area: who owns it, where their mail goes, what they paid, when they bought, who financed it, and how many other buildings they hold. Out of that come the three groups most likely to buy your building: owners of comparable product nearby, buyers who have closed on buildings like yours recently, and exchange buyers with money that has to be placed on a deadline.

That list runs well over 100 names, and we call every one of them.