5660 Kester AveLos Angeles, CA 91411

Property Details for 5660 Kester Ave

Year built

1951

Construction

WOOD

Lot size

0.16 AC

Property size (Sq ft)

4,000 SF

Zone code

LARD1.5

Property type

Apartment buildings

APN

2244-014-023

APU

2244014023

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,435,811

  6.5%

  $1,325,364

  7%

  $1,230,695

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,178,992

  Geo Method

  $1,178,992

• Alternative Use

  Use

  Valuation

  Residential

  $1,325,364

  Hospitality

  $1,214,026

  Educational

  $1,010,056

  Medical

  $1,044,793

  Retail

  $1,571,198

Location Insight

City

Van Nuys

County

Los Angeles

State

California

Latitude

34.1739

Longitude

-118.457

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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