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ASSUMABLE LOAN-3.75%-4 Years-7.72% Cap 6956 Kester Ave 24 Unit Apartment Building $4,800,000 ($200,000/Unit) 7.72% Cap Rate Van Nuys, CA 91405
Executive Summary
ASSUMABLE LOAN- 3.75% FIXED- $2,800,000 - VALID FOR 4 MORE YEARS UNTIL 6/1/2030
Corner Lot measuring 23,586 square feet
Ideal unit mix of Fourteen (2+2) and Nine ( 1+1) , and one SIngle ADU exisitng apartment
Bright units with private balconies or patios
Strong in-place rents with current cap rate of 7.72% GIM of 8.7
Spacious Floorplans with average unit size of 908 square feet
Copper plumbing
Plans and permits for 2 attached ADU apartments
Addition of 2 ADU apartments satisfies the LADBS Seismic Retrofit requirement (Buyer to
Verify)
On-Site Laundry Facilities
Ample parking spaces
Corner Lot measuring 23,586 square feet
Ideal unit mix of Fourteen (2+2) and Nine ( 1+1) , and one SIngle ADU exisitng apartment
Bright units with private balconies or patios
Strong in-place rents with current cap rate of 7.72% GIM of 8.7
Spacious Floorplans with average unit size of 908 square feet
Copper plumbing
Plans and permits for 2 attached ADU apartments
Addition of 2 ADU apartments satisfies the LADBS Seismic Retrofit requirement (Buyer to
Verify)
On-Site Laundry Facilities
Ample parking spaces
Property Facts
| Price | $4,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.54 AC |
| Cap Rate | 7.72% | Building Size | 20,880 SF |
| Gross Rent Multiplier | 8.7 | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LARD1.5 | ||
| Price | $4,800,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 7.72% |
| Gross Rent Multiplier | 8.7 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.54 AC |
| Building Size | 20,880 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
- Patio
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 850 |
| 2+2 | 14 | - | 940 |
| Studios | 1 | - | - |
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Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2219-016-038 | Improvements Assessment | $768,484 |
| Land Assessment | $730,059 | Total Assessment | $1,498,543 |
Property Taxes
Parcel Number
2219-016-038
Land Assessment
$730,059
Improvements Assessment
$768,484
Total Assessment
$1,498,543
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ASSUMABLE LOAN-3.75%-4 Years-7.72% Cap | 6956 Kester Ave