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PRICE $6,200,000 dsIDX morgage calculator
HOME SIZE 20,880 sqft
LOT SIZE 23,580 sqft

The majority of the apartments are two bedroom units, as the spacious floorplans total approximately 20,880 square feet across the 23 units. The owner has installed full copper plumbing, while most interiors have been upgraded with granite countertops and tile flooring. A new investor may be able to add significant value to the asset by recapturing the approximately 37% rent upside. There is an attractive loan that may be assumed, fixed at a 3.75% interest rate until the year 2030. Van Nuys, and in particular the 91405 zip code, has seen a massive influx of capital in recent years and the trend could continue with several notable developments on the near horizon. Large mixed-use projects currently moving through the development pipeline include 174 units over retail at 6569 Van Nuys Boulevard, 214 units over retail at 7115 Van Nuys Boulevard, and 322 units over retail at 7050 Van Nuys Boulevard, as well as a 405-unit apartment complex at 6728 Sepulveda Boulevard. Each of these new developments is within one mile of 6956 Kester Avenue, demonstrating the optimism large investors see in the local neighborhood. Perhaps the most noteworthy development project in the area is the upcoming East San Fernando Valley Light Rail Line, which will connect the Metro Orange Line, the Metrolink Train Line in Van Nuys, and the Metrolink Train Line in Sylmar/San Fernando. The majority of the new transit line will run along the median of Van Nuys Boulevard, with two different stations planned less than one mile from 6956 Kester Avenue. In addition to boosting commerce in the immediate area, it will also provide the benefit of more convenient transportation for the property's tenants.

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Listed with Marcus & Millichap

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 2/5/23 3:26 PM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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