For Sale
$1,600,000

5660 Kester AveLos Angeles, CA 91411

5-Unit Apartment Building, High Upside

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 5-unit apartment building presents a compelling investment opportunity in the desirable Sherman Oaks neighborhood of Los Angeles, CA. Located on a corner lot at 5660 Kester Ave, near Burbank Blvd, this property boasts a total of 4,000 square feet on a 7,157 square foot lot (APN 2244-014-023). Built in 1951 and zoned LARD1.5, the property offers significant potential for value appreciation. Each of the five units averages over 750 square feet, featuring spacious layouts with large kitchens, breakfast nooks, ample bedrooms, and hardwood floors throughout. The asking price is $1,600,000, representing a price per unit of $320,000 and a price per square foot of $400. The current cap rate stands at 3.30%, with market cap estimated at 8.6%. A significant upside potential exists, exceeding 50% in rental income, and the property offers the possibility of constructing two additional dwelling units (ADUs), projected to generate an extra $4,400 per month in rental income. This property's attractive location, strong curb appeal, and substantial value-add potential make it an ideal long-term addition to any investment portfolio. The property is situated in Los Angeles County, zip code 91411.

Highlights

  • 8.6% Market Cap Rate.

Property Details for 5660 Kester Ave

Property type
Apartment buildings
Square Feet
4,000 SF
Year Built
1951
Units
5

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.1738623
Longitude
-118.4570826
5660 Kester Ave, Los Angeles, California

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5660 Kester Ave
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