6840 Kester Ave
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6840 Kester Ave
20 Unit Apartment Building $4,600,000 ($230,000/Unit) 4.21% Cap Rate Van Nuys, CA 91405
Investment Highlights
- Excellent San Fernando Valley Location
- Well Maintained, Pool, Private Patios/Balconies
- Gated, Secure Covered Parking
- Favorable Mix of 2 & 3 Bedroom Units (75%)
- Seismic Retrofitting Completed
- Corner Lot on the corner of Kester Ave & Hartland St
Executive Summary
This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima.
This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed.
This property sits on a corner lot, on the corner of Kester Ave. and Hartland St., just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.
This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed.
This property sits on a corner lot, on the corner of Kester Ave. and Hartland St., just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.
Property Facts
| Price | $4,600,000 | Apartment Style | Low Rise |
| Price Per Unit | $230,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.54 AC |
| Cap Rate | 4.21% | Building Size | 30,866 SF |
| Sale Conditions | Build to Suit | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.39 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 0.65/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $4,600,000 |
| Price Per Unit | $230,000 |
| Sale Type | Investment |
| Cap Rate | 4.21% |
| Sale Conditions | Build to Suit |
| Gross Rent Multiplier | 11.39 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.54 AC |
| Building Size | 30,866 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 0.65/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Balcony
- Heating
- Kitchen
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 700 |
| 2+1 | 9 | - | 900 |
| 3+2 | 5 | - | 1,200 |
| 3+1 | 1 | - | 1,200 |
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Walk Score ®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 2219-018-018 | Improvements Assessment | $667,439 |
| Land Assessment | $319,340 | Total Assessment | $986,779 |
PROPERTY TAXES
Parcel Number
2219-018-018
Land Assessment
$319,340
Improvements Assessment
$667,439
Total Assessment
$986,779
zoning
| Zoning Code | R1.5, Los Angeles |
| R1.5, Los Angeles |
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6840 Kester Ave
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