| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 80th | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5421 Kester Ave, Sherman Oaks, CA, 91411, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1984 |
| Units | 29 |
| Transaction Date | 2011-08-31 |
| Transaction Price | $5,450,054 |
| Buyer | LEVER APARTMENTS L P |
| Seller | BH VINELAND LLC |
5421 Kester Ave Sherman Oaks Multifamily Opportunity
Neighborhood-level occupancy has been steady and elevated home values reinforce renter demand, according to CRE market data from WDSuite. These signals describe the surrounding Sherman Oaks neighborhood, not the property itself, and point to durable leasing fundamentals for investors.
Positioned in Sherman Oaks’ Urban Core, the property benefits from a well-rounded neighborhood profile that is above the metro median overall (A- rating; rank 323 of 1,441 Los Angeles neighborhoods). Dining and grocery coverage are competitive among Los Angeles neighborhoods, while parks, cafes, and pharmacies are thinner locally. Average school ratings land above national norms (around 3.5/5 and roughly top-third nationally), which supports family appeal for renters.
For investment demand, the neighborhood’s renter concentration is high, with about two-thirds of housing units renter-occupied. Neighborhood rents sit in the upper national percentiles, yet rent-to-income metrics suggest manageable affordability pressure relative to many coastal peers, supporting retention and lease management. These are neighborhood indicators, not property-level performance.
Within a 3-mile radius, recent years show flat-to-slightly lower population, but household counts have edged up and are projected to increase further alongside smaller average household sizes. This dynamic typically expands the renter pool and supports occupancy stability and absorption for professionally managed multifamily.
Home values in the neighborhood are elevated compared with national benchmarks, which tends to sustain reliance on rental housing and deepen the tenant base for well-located assets. Based on CRE market data from WDSuite, neighborhood occupancy is around the national midpoint, with Los Angeles’ strong employment base helping underpin leasing even as residents weigh affordability. The asset’s 1984 vintage is slightly older than the neighborhood’s typical construction year, pointing to potential value-add through targeted renovations and systems upgrades.
Neighborhood safety indicators compare favorably at the national level, with overall crime positioning in the top quartile nationally. Violent and property offense measures track closer to the national middle, indicating a balanced risk profile versus U.S. peers rather than an outlier condition.
Recent trend data shows notable year-over-year declines in both violent and property offense estimates, a positive directional signal relative to national patterns. These figures reflect the surrounding neighborhood context, not the property itself, and should be considered alongside standard underwriting risk adjustments.
Nearby entertainment, media, and corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience. Key employers in practical proximity include Radio Disney, Charter Communications, Live Nation Entertainment, Occidental Petroleum, and Disney.
- Radio Disney — corporate offices (6.7 miles)
- Charter Communications — telecommunications corporate offices (6.8 miles)
- Live Nation Entertainment — entertainment corporate offices (7.4 miles) — HQ
- Occidental Petroleum — energy corporate offices (7.6 miles) — HQ
- Disney — media & entertainment corporate offices (7.6 miles) — HQ
5421 Kester Ave offers exposure to a Los Angeles Urban Core neighborhood with strong renter depth and elevated ownership costs that reinforce multifamily demand. Neighborhood occupancy trends sit near national norms while median rents price in the upper percentiles, and rent-to-income levels indicate room for disciplined pricing without outsized retention risk. According to CRE market data from WDSuite, the area’s amenities and schools track above broad national benchmarks, supporting livability that can aid leasing and renewals.
The 1984 vintage is slightly older than the neighborhood average, creating potential value-add through unit modernization and common-area updates to sharpen competitiveness against newer stock. Within a 3-mile radius, the outlook points to growth in households and smaller average household sizes, which typically expands the renter pool and supports occupancy stability over a multi-year hold. Elevated neighborhood home values further sustain reliance on rental housing, reinforcing demand for well-managed mid-sized assets.
- Deep renter base in a high-cost ownership market supports ongoing leasing demand
- Neighborhood occupancy near national norms with rents in upper percentiles aids pricing power
- 1984 vintage offers value-add potential via targeted renovations and system upgrades
- Household growth and smaller household sizes within 3 miles expand the renter pool
- Risk: amenities like parks/cafes are thinner locally; disciplined asset management remains important