5660 Kester AveLos Angeles, CA 91411
- Residential income properties
- 4,000 SF
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
- Residential income properties
- Property subtype
- Other 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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