5723 Kester Avenue, Sherman Oaks, California 91411, Sherman Oaks, 91411 - bed, bath

5723 Kester Avenue, Sherman Oaks, California 91411 home-pic-0
ACTIVE$1,290,000
5723 Kester Avenue, Sherman Oaks, California 91411
0Bed
0Bath
1,872Sqft
6,002Lot
Year Built
1951
Close
-
List price
$1.29M
Original List price
$1.29M
Price/Sqft
$689
HOA
-
Days on market
-
Sold On
-
MLS number
SR25087210
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.29M(50th), sqft - 1872(50th), beds - undefined(50th), baths - undefined(50th).

Tremendous investment opportunity in a prime location! Currently property consists of a duplex with each featuring 2 bed 1 bath and that will be delivered vacant offering great opportunity for owner users and investors. A savvy investor can also take advantage of RTI-approved plans for a luxury 5-unit development. Once built, this project offers strong potential for an exceptional return. A rare find in one of the Valley’s most desirable neighborhoods!

Condition Rating
Fair

The property, built in 1951, features recently updated cosmetic elements including a new kitchen with modern white shaker cabinets, quartz-like countertops, new black appliances (refrigerator, range, microwave), and a renovated bathroom with a new vanity, mirror, and light fixture. New laminate flooring and fresh paint are also present throughout. However, the heating system relies on older wall heaters, and cooling is provided by a window AC unit, indicating outdated major systems. The overall structure is old, and the listing description itself notes the 'Age of Existing Structure' as a weakness, suggesting it may require extensive renovation or demolition for its full potential. While the visible updates make it move-in ready, the underlying older systems and structure prevent it from achieving a 'Good' rating.
Pros & Cons

Pros

Prime Location: Situated in Sherman Oaks, one of the Valley’s most desirable neighborhoods, ensuring strong demand and potential for appreciation.
Significant Development Potential: RTI-approved plans for a luxury 5-unit development provide a clear, de-risked path to substantial value creation.
Immediate Vacancy: The existing duplex will be delivered vacant, offering immediate flexibility for an owner-user or to commence redevelopment without tenant issues.
High Return Potential: The approved development project is explicitly noted to offer 'strong potential for an exceptional return' for investors.
Versatile Investment: Appeals to both owner-users seeking a prime location and savvy investors looking for a development project with pre-approved plans.

Cons

Age of Existing Structure: Built in 1951, the current duplex is dated and likely requires extensive renovation or demolition to maximize its potential.
Substantial Capital Investment: Realizing the 5-unit luxury development will necessitate significant construction costs and project financing beyond the acquisition price.
Development Timeline & Risk: Despite RTI approval, the development process involves inherent risks, project management, and a timeline during which the property may not generate income.

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