For Sale
$3,425,000

5236 Kester AveLos Angeles, CA 91411

Prime location, high upside potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 10-unit apartment building in Sherman Oaks presents a compelling investment opportunity. Located on Kester Avenue, just half a block from Magnolia Boulevard's vibrant shopping and dining scene, this property offers a desirable location with historically strong occupancy. The 9,409 square foot building, constructed in 1964, sits on a 12,608 square foot lot and features a desirable mix of spacious, townhouse-style units. Each unit boasts attractive amenities including air conditioning, hardwood floors, fireplaces, and private patios. Recent upgrades include a new roof, complete soft-story retrofitting, newer copper plumbing, and new AC units. The property also benefits from ample on-site tuck-under parking and additional income generated by shared laundry facilities. The building is gated and secure, enhancing its appeal. Currently generating a NOI of $144,301 and a 4.21% cap rate, a pro-forma analysis projects a NOI of $236,865 and a 6.92% cap rate, representing a significant 46% upside in rental income. The asking price is $3,425,000, translating to $342,500 per unit and $364.01 per square foot. The property is zoned LAR3 and offers a strong potential for future appreciation in a safe, residential neighborhood. This is a rare opportunity to acquire a well-maintained, income-producing asset with substantial upside potential in a highly sought-after Sherman Oaks location.

Highlights

  • Completed soft story seismic retrofit.
  • New roof installed.
  • Excellent proximity to shopping centers.
  • Gated community.
  • Fireplaces in units.
  • On-site laundry facilities.

Property Details for 5236 Kester Ave

Property type
Apartment buildings
Square Feet
9,409 SF
Class
C
Year Built
1964
Buildings
1
Stories
2

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.1659275
Longitude
-118.4571683
5236 Kester Ave, Los Angeles, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
5236 Kester Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message