Just Sold: 5245 Chesebro Rd, Agoura Hills, CA – Rare 24-Unit Multifamily Property

Jared Levine of JML Real Estate Group and Sherman & Levine of KW Commercial are proud to announce the successful sale of 5245 Chesebro Rd, Agoura Hills, CA, a rare 24-unit multifamily property located in the heart of Agoura Hills, California.

This transaction highlights how disciplined underwriting, strategic market positioning, and strong industry relationships continue to create value — even as multifamily investors navigate shifting market conditions throughout Southern California.

The property represented a rare opportunity to acquire a well-located apartment building in one of the most desirable suburban rental markets in the Conejo Valley and greater Los Angeles region.

Deal Summary

Sale Metrics

• Sale Price: $6,850,000

• Cost Per Unit: $285,416

• Cost Per Foot: $293

Property Details

• 24 Units

• 23,327 SF Building

• Built in 1978

  
  

Property Highlights

Investment Features

• Prime Agoura Hills Location

• AB 1482 Building

• Off-Market Transaction

• Value-Add Opportunity

• Excellent Unit Mix

• Rare Offering

• Laundry Facilities

• Parking

Rare Agoura Hills Multifamily Opportunity with Limited Supply & Low Transaction Volume

One of the most compelling aspects of 5245 Chesebro Rd was the rarity of the opportunity itself.

Agoura Hills remains one of the most supply-constrained multifamily submarkets in the greater Los Angeles region, with exceptionally limited apartment inventory and historically very low transaction volume. Unlike many larger urban submarkets throughout Los Angeles, Agoura Hills sees very few apartment building sales on an annual basis, particularly assets of this size and scale.

Because of this limited supply, opportunities to acquire multifamily properties in Agoura Hills are often highly competitive and closely watched by private investors seeking long-term ownership in stable suburban communities.

The city continues to attract strong renter demand due to:

• Excellent public schools

• High household incomes

• Quality suburban environment

• Proximity to Westlake Village, Calabasas, and Thousand Oaks

• Convenient access to the 101 Freeway

• Access to outdoor recreation and lifestyle amenities

• Strong long-term demographic trends

At the same time, new multifamily development within Agoura Hills remains extremely limited due to restrictive zoning, community planning priorities, and the predominantly residential character of the area. These factors continue to create a high barrier to entry for investors seeking apartment assets within the Conejo Valley.

As a result, well-located multifamily properties such as 5245 Chesebro Rd rarely become available for purchase, especially through off-market channels.

The combination of:

• Limited inventory

• Very low transaction volume

• Strong demographics

• Long-term rental demand

• Attractive suburban location

• Value-add potential

made this property a particularly unique investment opportunity within today’s Southern California multifamily market.

Rare Off-Market Multifamily Opportunity

The sale of 5245 Chesebro Rd was completed as an off-market transaction, underscoring the importance of strong industry relationships and targeted investor networks in today’s competitive multifamily market.

Several factors drove investor interest in the property:

1. Rare Agoura Hills Inventory

Apartment buildings of this size rarely become available in Agoura Hills, especially properties with strong long-term upside potential.

2. Excellent Unit Mix

The property featured an attractive unit mix that continues to appeal to long-term renters seeking quality housing within the Conejo Valley market.

3. Value-Add Potential

Investors were drawn to the opportunity to improve operations and capture future rental upside over time through strategic management and renovations.

4. Strong Submarket Fundamentals

Agoura Hills continues to benefit from:

• High barriers to entry

• Strong demographics

• Limited multifamily development

• Stable tenant demand

• Long-term appreciation potential

Continued Demand for Well-Located Multifamily Assets

Even as multifamily markets across California continue adjusting to interest rates, operational costs, and evolving regulations, quality apartment buildings in supply-constrained locations continue to attract strong investor demand.

Today’s multifamily investors remain highly focused on:

• Long-term cash flow stability

• Desirable suburban submarkets

• Rental upside potential

• Quality tenant demographics

• Scarcity of available inventory

• Basis relative to replacement cost

5245 Chesebro Rd checked many of these boxes, making it a highly desirable investment opportunity within the Conejo Valley multifamily market.

Looking to Sell Your Multifamily Property?

If you own a multifamily property in:

• Agoura Hills

• Westlake Village

• Thousand Oaks

• Calabasas

• Woodland Hills

• San Fernando Valley

• Ventura County

• Greater Los Angeles

…and would like a confidential opinion of value, we would be happy to discuss current market conditions, investor demand, and strategic positioning opportunities.

At JML Real Estate Group, we specialize in multifamily investment sales throughout Los Angeles and Ventura County with a focus on sophisticated underwriting, strategic marketing, and maximizing seller proceeds through targeted investor exposure.

Contact Us today! 818.657.6556 or jared@jaredmlevine.com