Multifamily Apartment
For Sale
$4,800,000
6956 Kester Avenue, Van Nuys, CA 91405
Apartment building with commuter-friendly access to major arterials, transit, and the 405 freeway in Van Nuys.
Property Size20,880 SF
Days on Market55
Property Features for 6956 Kester Avenue
General Information
Standard status
Active
Size
20,880 SF
Property subtype
Multifamily
Occupancy
97%
Amenities
ASSUMABLE LOAN- 3.75% FIXED- $2,800,000 - VALID FOR 4 YEARS UNTIL 6/1/2030
Corner Lot measuring 23,586 square feet
Hard-to-find unit mix of Fourteen (2+2), Nine (1+1), and one single apartment
Bright units with private balconies or patios
Strong in-place rents with current cap rate of 7.5%
Spacious Floorplans with average unit size of 908 square feet
Copper plumbing
New Electrical Panels Plans and permits for 2 other attached ADU apartments in addition to existing ADU unit Addition of 2 additional ADU apartments satisfies the LADBS Seismic Retrofit requirement (Buyer to Verify) On-Site Laundry Facilities Ample parking spaces
Building Details
Building Size
20,880 SF
Units
24
Listing Agency:
(818) 212-2752
Listed By:
Janette Monfared · License #License(s): CA: 00765098
(818) 212-2752
Source:
Marcusmillichap
Added: Jun 23
Changed: Aug 7
Last Checked: Aug 15 at 3:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Janette Monfared
Investment Insights
Based on property information with market context.
Kester Avenue Apartments is a multifamily apartment property positioned to serve renters who want stable, mid-tier housing options in Van Nuys.
The property is located at 6956 Kester Avenue, with quick access to Van Nuys Boulevard and Sepulveda Boulevard, and practical connectivity for commuters using nearby transit options including the Van Nuys Metrolink/Amtrak area, the Metro G Line, and the 405 freeway. It also sits within a short distance of neighborhood anchors such as the Sepulveda Basin Recreation Area and Valley Presbyterian Hospital, as well as local schools including Cohasset Street Elementary.
For buyers or operators, this asset is suited for a residential income strategy focused on a locally established tenant pool in a high-density rental pocket of the San Fernando Valley. The day-to-day convenience of nearby employment, schools, and recreation—paired with access to major roads and transit—can support leasing to a broad range of household needs.
The property is located at 6956 Kester Avenue, with quick access to Van Nuys Boulevard and Sepulveda Boulevard, and practical connectivity for commuters using nearby transit options including the Van Nuys Metrolink/Amtrak area, the Metro G Line, and the 405 freeway. It also sits within a short distance of neighborhood anchors such as the Sepulveda Basin Recreation Area and Valley Presbyterian Hospital, as well as local schools including Cohasset Street Elementary.
For buyers or operators, this asset is suited for a residential income strategy focused on a locally established tenant pool in a high-density rental pocket of the San Fernando Valley. The day-to-day convenience of nearby employment, schools, and recreation—paired with access to major roads and transit—can support leasing to a broad range of household needs.
Key Highlights
- 6.98% (as provided in the listing information)
- Located at 6956 Kester Avenue in Van Nuys, near Van Nuys Blvd and Sepulveda Blvd
- Quick access to the Van Nuys Metrolink/Amtrak station, Metro G Line, and the 405 freeway
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$335,976
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,719,520
$6.7M
Cap Rate 7%
$4,799,657
$4.8M
Cap Rate 9%
$3,733,067
$3.7M
Market Conditions
NOI Build-Up for 20,880 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$664.0K $31.80/SF
− Vacancy
−$53.1K −$2.54/SF
EGI
$610.9K $29.26/SF
− OpEx
−$274.9K −$13.17/SF
NOI
$336.0K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,719,520
Cap Rate 7%
$4,799,657
Cap Rate 9%
$3,733,067
Alternative Uses
Best Use
Apartment 5plus
$4.80M
$4.20M – $5.60M
NOI $335,976 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.18M
$9.78M – $13.04M
NOI $782,535 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,181
Businesses Nearby
Explore this area
Business Placement
Demographics for 91405, CA
55,319
Population
19,822
Households
2.8
Avg Household Size
36
Median Age
26%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
16,270
Density / Sq Mi
$61,207
Median Household Income
$34,833
Median Earnings
$1,736
Median Rent
$698,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building with commuter-friendly access to major arterials, transit, and the 405 freeway in Van Nuys.
Where is this apartment building located?
The property is located at 6956 Kester Avenue Van Nuys, CA.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 6.98% (as provided in the listing information); Located at 6956 Kester Avenue in Van Nuys, near Van Nuys Blvd and Sepulveda Blvd; Quick access to the Van Nuys Metrolink/Amtrak station, Metro G Line, and the 405 freeway
