5625 Kester Avenue

    Van Nuys, CA 91411
    • $3,110,000
    • STATUS: Active
    • ON SITE: 211 days
    • ID#: 19446332
    UPDATED: 221 min ago
    $3,110,000
    • 18
      BEDS
    • 0.28
      ACRES
    • 16
      BATHS
    • 0
      1/2 BATHS
    • 11,380
      SQFT
    • $273
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1961
    County:

    School Ratings & Info

    Description

    We are is pleased to announce the sale of 5625 Kester Avenue, an 11-unit (plus one non-conforming unit) multifamily property located in the affluent community of Sherman Oaks, California. Both immediate and future cash flows can be dramatically strengthened through the assumption of the first trust deed, which allows for interest-only payments at an interest rate of only 3.35 percent. A courtyard property situated on a corner lot near the intersection of Burbank Boulevard and Kester Avenue, the building benefits from its high visibility and ease of access. Constructed in 1961, the 11+1 units feature large floorplans, spanning a total of 11,380 square feet.Select units within the property have undergone extensive renovations, effectively creating a blueprint for additional upgrades to the remaining units. Included in these improvements are luxury vinyl plank flooring, remodeled bathrooms, new ceiling fans, and new quartz countertops.

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    Based on information from CARETS as of 2019-10-18T23:51:08.33. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.rosalietherealtor.com/homes/92890871

    5625 Kester Avenue Van Nuys, CA 91411

    • Price: $3,110,000
    • Status: Active
    • Updated: 221 min ago
    • ID#: 19446332
    18
    Beds
    16
    Baths
    0
    ½ Baths
    0.28
    Acres
    11,380
    SQFT
    $273
    $/SQFT
    1961
    Built
    Neighborhood:
    Sherman Oaks (So)
    County:
    Los Angeles
    Area:
    Sherman Oaks (So)
    Property Description
    We are is pleased to announce the sale of 5625 Kester Avenue, an 11-unit (plus one non-conforming unit) multifamily property located in the affluent community of Sherman Oaks, California. Both immediate and future cash flows can be dramatically strengthened through the assumption of the first trust deed, which allows for interest-only payments at an interest rate of only 3.35 percent. A courtyard property situated on a corner lot near the intersection of Burbank Boulevard and Kester Avenue, the building benefits from its high visibility and ease of access. Constructed in 1961, the 11+1 units feature large floorplans, spanning a total of 11,380 square feet.Select units within the property have undergone extensive renovations, effectively creating a blueprint for additional upgrades to the remaining units. Included in these improvements are luxury vinyl plank flooring, remodeled bathrooms, new ceiling fans, and new quartz countertops.
    Exterior Features

    Parking Features Covered Parking Parking Spaces Total 18 Parking Type Garage

    Interior Features

    Cooling Type Air Conditioning Heating Type Other Interior Features Other Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Unfurnished Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 2.0 Unit Number Of Bath04 2.0 Unit Number Of Bed01 0 Unit Number Of Bed02 1 Unit Number Of Bed03 2 Unit Number Of Bed04 3

    Property Features

    Adjusted Gross Income 189032.00 Assessed Improvement Value 1040000.00 Assessed Land Value 1545000.00 Cap Rate 3.78 Country United States Of America Expense Total Annual 71376.00 Gross Operating Income 194831.00 Gross Rent Multiplier 15.96 Hoa YN N Legal Disclosures No Property Assessments Lot Size Source Public Records Net Operating Income 117656.00 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Public Records Unit Monthly Rent01 0.00 Unit Monthly Rent02 1404.00 Unit Monthly Rent03 1412.00 Unit Monthly Rent04 2035.00 Unit Projected Total Monthly Rent01 1250.00 Unit Projected Total Monthly Rent02 11550.00 Unit Projected Total Monthly Rent03 6285.00 Unit Projected Total Monthly Rent04 2395.00 Unit Total Monthly Rent01 0.00 Unit Total Monthly Rent02 9834.00 Unit Total Monthly Rent03 4238.00 Unit Total Monthly Rent04 2035.00 Unit Type01 1 Unit Type02 7 Unit Type03 3 Unit Type04 1 Units Total In Complex 12 Zoning Lar3

    Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


    Based on information from CARETS as of 2019-10-18T23:51:08.33. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
    The Agency
    331 N Foothill Rd, #100
    Beverly Hills CA, 90210