| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 80th | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5531 Kester Ave, Sherman Oaks, CA, 91411, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1986 |
| Units | 27 |
| Transaction Date | 1998-09-22 |
| Transaction Price | $1,895,000 |
| Buyer | ELLIS GEORGE L |
| Seller | KHADER BASEM |
5531 Kester Ave Sherman Oaks Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and elevated ownership costs, according to WDSuite’s CRE market data. Stable occupancy and proximity to major employment centers position this asset for durable leasing in Los Angeles’ core.
Located in Sherman Oaks within the Los Angeles-Long Beach-Glendale metro, the neighborhood scores A- and ranks 323 out of 1,441 metro neighborhoods—placing it in the top quartile locally. Restaurant and grocery access trend above national averages (both in the upper 80s percentiles), while limited café, park, and pharmacy density suggests residents rely on nearby corridors for select daily needs. Average school ratings sit in the low-to-mid 70s nationally, indicating competitive educational options relative to many urban submarkets.
Ownership costs are elevated (median home values near the 98th national percentile), which tends to sustain reliance on multifamily housing and support pricing power for well-run assets. Rent-to-income levels in the neighborhood read as manageable (lower national percentile), which can aid retention and reduce turnover pressure—useful context for investors evaluating income durability.
The neighborhood’s renter-occupied share is high (mid-90s national percentile), signaling depth in the tenant base and consistent leasing velocity for professionally managed properties. Occupancy at the neighborhood level sits around the national midpoint, implying steady but competitive leasing conditions where product quality and operations matter.
Within a 3-mile radius, recent population trends were flat-to-down, but WDSuite data points to a meaningful increase in total households by 2028 alongside smaller average household sizes. For investors, more households and a higher-income mix broaden the renter pool and support occupancy stability, a useful backdrop for commercial real estate analysis focused on long-term demand.
Neighborhood-level safety indicators are comparatively favorable versus many urban areas. The area performs above national averages (around the mid-70s percentile nationally), and recent year-over-year trends show notable declines in both violent and property offense estimates. These are neighborhood-level signals, not property-specific, but they suggest improving conditions that can reinforce resident retention.
Relative to the Los Angeles metro, the neighborhood’s crime rank sits on the stronger side of the spectrum (352 out of 1,441), indicating a position that is above metro average rather than a high-crime outlier. Investors should continue to monitor trends, but the recent improvement momentum provides a constructive context for operations.
Proximity to major corporate offices underpins commuter convenience and renter demand, with a concentration in media, entertainment, telecom, and energy. The employers below represent nearby demand drivers likely to support leasing velocity and retention.
- Charter Communications — telecom (6.8 miles)
- Radio Disney — entertainment/media (6.8 miles)
- Live Nation Entertainment — entertainment (7.5 miles) — HQ
- Disney — entertainment (7.7 miles) — HQ
- Occidental Petroleum — energy (7.8 miles) — HQ
5531 Kester Ave is a 27-unit, 1986-vintage asset with larger-than-typical floorplans for the area (average unit size near 950 sq. ft.). The vintage suggests selective modernization or systems upgrades could unlock value-add upside, while the neighborhood’s high renter-occupied share and elevated ownership costs support a deep tenant base. According to CRE market data from WDSuite, neighborhood occupancy trends hover near national norms, implying steady leasing where execution and product differentiation drive outcomes.
Within a 3-mile radius, households are projected to grow meaningfully by 2028 even as household sizes trend smaller—conditions that typically expand the renter pool and support occupancy stability. Combined with strong access to LA’s entertainment and telecom employment nodes and improving neighborhood safety signals, the asset’s fundamentals align with durable demand and measured pricing power for well-managed operations.
- High renter-occupied share and elevated ownership costs support demand depth and lease retention
- 1986 vintage with larger floorplans offers potential value-add through targeted modernization
- Household growth within 3 miles and access to nearby employers underpin stable occupancy
- Neighborhood safety trends improving, providing a constructive operating backdrop
- Risk: amenity gaps (parks/cafés/pharmacies) and mid-cycle occupancy require strong management and competitive positioning