Skip to main content

Multifamily

6461 Kester

6461 Kester Ave, Los Angeles, CA 91411

Listing Price: $2,800,000

Cap Rate
3.77%
Number of Units
15
Price/Unit
$186,667
Price/Gross SF
$293.35
Gross SF
9,545

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for sale 6461 Kester (the “Property”), a 15-unit value-add multifamily opportunity located in Van Nuys. The Property is located along Kester Avenue with direct access to Ventura Boulevard (the main artery of San Fernando Valley) giving residents accessibility to an array of retail amenities, dining options, and nearby recreation & entertainment venues. Additionally, the Property offers investors the opportunity to significantly increase rents by continuing the renovation program on the non-renovated units and common area spaces along with capturing embedded loss-to-lease on renovated units.

Investment Highlights

  • Compelling Value-Add Opportunity: By executing a more comprehensive renovation plan, investors will be able to effectuate $542 per unit (46%) in rental upside.
  • Detached Carports Ideal for ADU Conversion: The Property's revenue stream can be enhanced through adding Accessory Dwelling Units (ADU). Per city code, up to 3 ADU's can be added to the building.
  • Rising Home Value Cost Spurs Rental Demand: Van Nuys' median price for a single-family residence has grown to $870K. This represents an 40.3% increase over the past three years.
  • Strong Demand Drivers: The Property affords tenants with a lower cost neighborhood while remaining within a 15- to 20-minute drive of prominent job centers such as Burbank, Warner Center, and Sherman Oaks.
  • Strong Rental Growth Projection: In the Van Nuys submarket, market rents are projected to grow 4.5% over the next 12 months while average occupancy remains above 97.5%.

Exclusively Listed By

Multifamily

6461 Kester

Listing Price: $2,800,000

Cap Rate
3.77%
Number of Units
15
Price/Unit
$186,667
Price/Gross SF
$293.35
Gross SF
9,545

Investment Highlights

  • Compelling Value-Add Opportunity: By executing a more comprehensive renovation plan, investors will be able to effectuate $542 per unit (46%) in rental upside.
  • Detached Carports Ideal for ADU Conversion: The Property's revenue stream can be enhanced through adding Accessory Dwelling Units (ADU). Per city code, up to 3 ADU's can be added to the building.
  • Rising Home Value Cost Spurs Rental Demand: Van Nuys' median price for a single-family residence has grown to $870K. This represents an 40.3% increase over the past three years.
  • Strong Demand Drivers: The Property affords tenants with a lower cost neighborhood while remaining within a 15- to 20-minute drive of prominent job centers such as Burbank, Warner Center, and Sherman Oaks.
  • Strong Rental Growth Projection: In the Van Nuys submarket, market rents are projected to grow 4.5% over the next 12 months while average occupancy remains above 97.5%.

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for sale 6461 Kester (the “Property”), a 15-unit value-add multifamily opportunity located in Van Nuys. The Property is located along Kester Avenue with direct access to Ventura Boulevard (the main artery of San Fernando Valley) giving residents accessibility to an array of retail amenities, dining options, and nearby recreation & entertainment venues. Additionally, the Property offers investors the opportunity to significantly increase rents by continuing the renovation program on the non-renovated units and common area spaces along with capturing embedded loss-to-lease on renovated units.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower