4727 Kester Ave Los Angeles, CA 91403

Written By David Saghian

15-Unit AB-1482 Building in Sherman Oaks

SOLD: $4,995,000 CAP RATE: 4.64% GRM: 13.34 PRICE PER SQUARE FOOT: $368

We are pleased to announce the sale of 4727 Kester Ave a highly desirable multifamily asset located in prime Sherman Oaks adjacent to Encino one of the strongest rental corridors in the San Fernando Valley. The property sold for $4,995,000 reflecting a 4.64% cap rate a 13.34 GRM a $333,000 price per unit and a $368 price per square foot.

Built in 1984 and governed only by statewide AB 1482 the property is not subject to local rent control. The building offers an excellent and highly rentable unit mix consisting of five one bedroom one bathroom units five two bedroom one bathroom units four two bedroom two bathroom units and one two bedroom two and a half bathroom townhome unit. Every unit includes either a balcony or patio space enhancing livability and long term tenant appeal.

The offering presents an attractive value add opportunity with approximately 29% upside in market rents. All units are separately metered for gas and electricity reducing operating expenses and supporting stronger net operating income. Additional features include subterranean gated parking providing ample secure parking for residents along with a shared on site laundry room generating supplemental income.

Situated in an amenity rich pocket of Sherman Oaks the property offers close walking proximity to top tier dining premium retail boutique fitness shopping centers and major entertainment destinations along Ventura Boulevard. This combination of location unit mix and upside makes 4727 Kester Ave a strong long term investment with durable demand and significant growth potential.

Investment Highlights

  • Prime Sherman Oaks location adjacent to Encino with strong long term tenant demand

  • Sold for $4,995,000 reflecting a 4.64% cap rate a 13.34 GRM a $333,000 price per unit and a $368 price per square foot

  • Excellent unit mix of one and two bedroom units plus a two bedroom two and a half bathroom townhome

  • Built in 1984 governed only by AB 1482 with approximately 29% upside in market rents

  • All units separately metered for gas and electricity plus balcony or patio space for every unit

  • Subterranean gated parking and on site laundry generating additional income

Exclusively Listed & Sold By:

David Saghian

(310) 401-1559

dsaghian@lyonstahl.com

 
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David Saghian
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