Active
4957 Kester Avenue, Sherman Oaks (los Angeles)
Sherman Oaks ( los Angeles ) CA, 91403
$5,150,000
$398.45 per sqft
Active
12,925 sqft
Other
Built in 1963
IMPROVED PRICING AS SELLER HAS FOUND THEIR UPLEG -- PROPERTY IS PRICED TO SELL AND FEATURES THE LOWEST GRM AND HIGHEST CAP RATE AVAILABLE IN SHERMAN OAKS. More than 78% of the unit interiors have been thoroughly upgraded, featuring new amenities such as custom Calacatta quartz countertops, French Oak-inspired wood flooring, stainless steel appliances, and completely remodeled bathrooms. A new investor may be able to benefit from the already-completed upgrades to realize consistent income improvement, as area rents have steadily increased even in the short time since these renovations were completed. Moreover, a new owner can conduct a similar revitalization of the remaining three apartments to potentially recapture approximately 15% in rent upside. Because nearly all of the units are currently leased at or near market rent levels, the effects of local rent control have been essentially removed, leaving the new owner a market rental base similar to that of a non-rent controlled asset. Located near the intersection of Valleyheart Drive and Kester Avenue, the building sits only four blocks from the fine dining and premium boutiques along world renowned Ventura Boulevard. The property features spacious floorplans covering approximately 12,925 square feet across the 14 units. Recent m
CL23339437
MLSⓇ ID
December 13, 2023
Listed
October 10, 2024
Updated
Map
4957 Kester Avenue, Sherman Oaks (los Angeles)
Sherman Oaks ( los Angeles ) CA, 91403
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.29 Acres
Other Property Details
Area Name
Sherman Oaks (los Angeles)
Garage
No
Parking
Assigned
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Listing History
Date | Event | Price |
---|---|---|
6/24/2024 | Price change | $5,150,000 -2% |
Listed by Roderick 'Rick' Raymundo with Marcus & Millichap
Listing Contact: 213-943-1855
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