| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 85th | Best |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5060 Kester Ave, Sherman Oaks, CA, 91403, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1990 |
| Units | 22 |
| Transaction Date | 2004-11-04 |
| Transaction Price | $4,860,000 |
| Buyer | CMS PACIFIC CORP |
| Seller | SANTA BARBARA EQUITIES |
5060 Kester Ave Sherman Oaks 22-Unit Multifamily
Positioned in a high-income, renter-driven pocket of Sherman Oaks, the asset benefits from durable demand and a deep tenant base, according to WDSuite’s CRE market data. The surrounding neighborhood shows stable occupancy with room for pricing power in a high-cost ownership market.
Rated A and competitive among Los Angeles-Long Beach-Glendale neighborhoods, this Urban Core location ranks within the top quartile among 1,441 metro neighborhoods. Neighborhood-level data points to a high-education, high-income renter pool, supporting leasing velocity and renewal prospects for professionally managed multifamily.
Daily needs are well covered: grocery and pharmacy access score well above national norms, and restaurants are plentiful, while parks and cafes are comparatively sparse. For investors, this mix tends to support steady day-to-day convenience even if green space and third-place options are limited nearby.
Multifamily fundamentals are attractive at the neighborhood level. A majority of housing units are renter-occupied, placing renter concentration among the highest nationally — a signal of depth for tenant demand. Occupancy trends are around the national middle with some softening in recent years, suggesting a focus on operations and amenities can help drive retention. Elevated home values relative to incomes indicate a high-cost ownership market, which typically sustains reliance on rental housing and underpins lease-up and renewal strength.
Within a 3-mile radius, demographics show resilient household counts with smaller average household sizes over time, which generally expands the renter pool and supports occupancy stability. Income growth trends are solid, and projected increases in both household counts and market rents through 2028 point to continued support for multifamily demand, based on commercial real estate analysis from WDSuite.
Vintage matters for competitiveness: built in 1990, the property is newer than the neighborhood’s average vintage from the 1980s. That positioning can help versus older stock, though investors should still plan for modernization of finishes and systems to meet current renter expectations.
Neighborhood safety indicators trend favorable in a national context: overall crime measures sit in a higher national percentile (safer than many neighborhoods), with violent offense metrics likewise better than average. Recent data also shows notable year-over-year declines in estimated offense rates, a constructive signal for long-term leasing stability. These figures reflect neighborhood-level conditions, not property-specific security.
Compared with many Los Angeles neighborhoods, this area is competitive on safety and has been improving on trend. Investors should continue to monitor submarket-level shifts and maintain standard property-level risk management and lighting/security practices.
Proximity to major media and corporate employers supports a diversified white-collar renter base and commute convenience. Notable nearby employers include Radio Disney, Charter Communications, Live Nation Entertainment, Occidental Petroleum, and Activision Blizzard Studios.
- Radio Disney — corporate offices (6.7 miles)
- Charter Communications — corporate offices (6.9 miles)
- Live Nation Entertainment — corporate offices (6.9 miles) — HQ
- Occidental Petroleum — energy corporate offices (7.2 miles) — HQ
- Activision Blizzard Studios — media & entertainment offices (7.3 miles)
5060 Kester Ave offers 22 units in a high-income, renter-oriented Sherman Oaks location where neighborhood fundamentals support steady occupancy and renewal prospects. Elevated ownership costs in the area tend to reinforce multifamily demand, while neighborhood-level occupancy sits near national norms with some recent softening — an operational opportunity for disciplined management.
Built in 1990, the asset is newer than much of the surrounding 1980s stock, providing a competitive baseline with potential to unlock value through targeted interior and common-area updates. According to CRE market data from WDSuite, the broader neighborhood shows strong renter concentration and solid income profiles, with 3-mile household growth and smaller household sizes likely to expand the tenant base and support pricing power over the medium term.
- Renter-driven neighborhood in a high-cost ownership market supports sustained multifamily demand and renewal potential.
- 1990 vintage is competitive versus older local stock, with clear value-add potential through modernization.
- Solid income profiles and projected 3-mile household gains point to a larger tenant base and support for occupancy stability.
- Risks: recent occupancy softening and limited parks/cafes nearby may require focused amenity strategy and active leasing; sector exposure to media/entertainment employers warrants diversification at the portfolio level.