6840 Kester Ave · Los Angeles, CA 91405

$4,400,000

43 bd · 26.0 ba · 18,333 sqft · MultiFamily public records · 608 Days on market

Built 1961 0.54 ac lot $240/sqft · 10% above area Est $4008k · 10% over ↓ 8% since listing

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.0/30.0
• DSCR +9.4/10.0
• 1% rule +6.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• ARV discount +3.1/15.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

Key facts

• 0.54 acre lot
• 20 parking spots
• Pool

What this means for you Summary

Snapshot

• This is a 15×2bd/1.3ba + 5×3bd/1.3ba units multifamily listed at $4.40M.

Deal economics

• At list price, monthly cash flow is $12k ($148k/yr) — positive. Per door: $618/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($49k rent vs $4.40M).
• Recommended offer: $3.87M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.3%/yr); 76 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $48,818/mo this rent would consume 931% of the median local household income ($63k/yr) (locally 4944% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $30k of loan paydown is wiped out by about $132k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 608 days — a 12% lower offer ($3.87M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $400k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,872,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 608 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 7.5

CMA / ARV

• ARV (median comp): $4,007,685
• List price: $4,400,000
• Delta: 9.79%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-70,565
• Equity at exit: $656,054

10-year hold

• IRR: 4.9%
• Equity multiple: 1.32×
• Total profit: $391,979
• Equity at exit: $380,432

Cash invested: $1,232,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 91405

• Rents YoY: -1.3%
• Active inventory: 76
• Price-to-rent: 156.6×

Monthly cashflow live

• Estimated rent: $48,818 high
• Mortgage (P&I): −$23,074
• Tax from tax record: −$1,297 /mo · $15,563/yr
• Insurance: −$1,833
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,252
• Net cashflow: $12,362

Break-even live

Break-even rent $33,170

Max offer price $4,400,000

Occupancy floor 70%

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 15× units	2	1.3	$35,130
▸ 5× units	3	1.3	$13,695
Total (20 units)			$48,818

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,100,000
• Closing costs: $132,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $4,400,000 Active 608 DOM
2. 2026-06-17
   days on market $4,400,000 Active 607 DOM
3. 2026-06-16
   days on market $4,400,000 Active 606 DOM
4. 2026-06-15
   days on market $4,400,000 Active 605 DOM
5. 2026-06-13
   days on market $4,400,000 Active 603 DOM
6. 2026-06-09
   days on market $4,400,000 Active 599 DOM
7. 2026-06-08
   days on market $4,400,000 Active 598 DOM
8. 2026-06-07
   days on market $4,400,000 Active 597 DOM
9. 2026-06-04
   days on market $4,400,000 Active 594 DOM
10. 2026-06-03
    days on market $4,400,000 Active 593 DOM
11. 2026-06-02
    days on market $4,400,000 Active 592 DOM
12. 2026-06-01
    days on market $4,400,000 Active 591 DOM
13. 2026-05-31
    days on market $4,400,000 Active 590 DOM
14. 2026-04-14
    status Active 925-char remark

    Show marketing remark (925 chars)

    This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

15. 2026-03-11
    status Active 925-char remark

    Show marketing remark (925 chars)

    This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

16. 2026-01-14
    status Active 925-char remark

    Show marketing remark (925 chars)

    This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

17. 2025-10-03
    status Active 925-char remark

    Show marketing remark (925 chars)

    This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

18. 2025-03-20
    price $4,400,000 925-char remark

    Show marketing remark (925 chars)

    This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

19. 2025-03-19
    status Active 925-char remark

    Show marketing remark (925 chars)

    This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

20. 2024-10-29
    price $4,600,000 925-char remark

    Show marketing remark (925 chars)

    This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

21. 2024-08-16
    listed $4,800,000 Active 925-char remark

    Show marketing remark (925 chars)

    This 20-unit Apartment building is a well-maintained asset in Van Nuys, CA. New Roof just completed. Centrally located in the San Fernando Valley, this complex has almost immediate access to the 101, 405, 170, and 118 freeways, as well as an abundance of public transportation, including a new line currently in construction: the East San Fernando Valley Light Rail Transit project, that will feature 11 stops from Van Nuys to Pacoima. This property features a favorable unit mix, with 15 of the 20 units being 2 & 3 bedroom units (25% 1 bedrooms, 75% 2 & 3 bedrooms), with private patios/balconies, and a pool. This two-story building also has secure, gated parking with covered spaces, and seismic retrofitting has been completed. This property sits on a corner lot, on the corner of Kester Ave. and Hartland St. , just north of Vanowen St. The Van Nuys location is very walkable and bikeable with good transit.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $15,563 · $1,297/mo
• Projected year-2 tax: $33,440 · $2,787/mo
• Expected delta: +$17,877/yr (+$1,490/mo · 114.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $585,816
• − Mortgage interest: −$246,468
• − Property taxes: −$15,563
• − Insurance: −$22,000
• − Repairs & maintenance: −$46,865
• − Management: −$46,865
• − Depreciation: −$128,000
• Taxable income: $80,054
• Est. tax owed @ 24.0%: −$19,213
• After-tax cash flow: $129,130/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 56,033
• Household income: $62,900
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4944.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 60% White 23% Two or more races 20% Asian 9% Black 4%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 47% · Canada, South Korea, China
• Languages at home: 26% English-only · Spanish 55% Other Indo-European 10% Tagalog/Filipino 3%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -852.77%
• Current HPI: 545.8158
• Rent YoY: ▼ -1.26%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-8.3% since first listed

8 events — show timeline

• 2026-04-14 Relisted — TheMLS
• 2026-03-11 Relisted — TheMLS
• 2026-01-14 Relisted — TheMLS
• 2025-10-03 Relisted — TheMLS
• 2025-03-20 Price Changed $4,400,000 TheMLS
• 2025-03-19 Relisted — TheMLS
• 2024-10-29 Price Changed $4,600,000 TheMLS
• 2024-08-16 Listed $4,800,000 TheMLS

Property tax history

+1.7%/yr

Latest (2025): $15,563 · +2.5% YoY. Source: county tax records.