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100% FULLY LEASED - REAL 6.26% CAP RATE 10828 Hesby St 5 Unit Apartment Building $3,595,000 ($719,000/Unit) 6.26% Cap Rate North Hollywood, CA 91601
Investment Highlights
- 100% FULLY LEASED new-construction five-unit multifamily property in the heart of North Hollywood, within walking distance to the NoHo Arts District.
- Annual Rental Income is $280,200 with tenants responsible for all utilities, maximizing cash flow potential.
- Excellent 1031 Exchange opportunity – low maintenance, high-yield asset
- Attractive unit mix featuring spacious layouts, in-unit laundry, premium stainless steel appliances, and abundant natural light throughout.
- Offered at $3,595,000 with a 6.26% cap rate and supported by strong comparable sales in a high-demand submarket.
- Close to countless entertainment and shopping destinations, such as NoHo West, Universal CityWalk, and more.
Executive Summary
We are pleased to present 10828 Hesby Street, a brand-new, 100% FULLY LEASED luxury 5- unit multifamily property located in the heart of North Hollywood, just minutes from Toluca Lake and Studio City and within walking distance to the vibrant NoHo Arts District. This non-rent-controlled asset offers an ideal unit mix consisting of one 5-bedroom, two 4-bedroom, and two 2-bedroom unitseach thoughtfully designed with open floorplans, in-unit laundry, premium stainless steel appliances, and large windows that flood the interiors with natural light. The 5-bedroom unit is leased at $6,000, both 4-bedroom units are leased at $5,250 each, the 2-bedroom/3-bath unit is leased at $3,750, and the 2-bedroom/2-bath ADU is rented at $3,100 reflecting strong rental demand and high-income potential. Offered at $3,595,000 with a REAL CAP RATE of 6.26%, the property is expected to generate approximately $280,200 in annual rental income, making it one of the best-priced new construction offerings in the area. Tenants pay for all utilities, keeping operating expenses low, and the property comes with a one-year builder's warranty for added peace of mind. With seven dedicated parking spaces, the building offers excellent convenience. Prime location near major studios, with easy access to dining, cafes, entertainment options and freeways. Recent comparable sales in prime North Hollywood continue to demonstrate strong investor demand for well located multifamily assets. 11447 Cumpston St, a four unit property, just closed at $3,350,000, achieving $837,500 per unit. Additionally, 5663 Case Ave, a five unit property, sold for $3,900,000, reflecting $780,000 per unit. These trades underscore the premium pricing being achieved for quality assets in this highly sought after rental pocket. Ample street parking is also available for tenants and guests. Hesby Street presents a rare opportunity to acquire a low-maintenance, high-yield investment in one of L.A.'s most desirable rental markets. See OM in Docs.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$280,200
|
$37.93
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$280,200
|
$37.93
|
| Taxes |
$43,140
|
$5.84
|
| Operating Expenses |
$6,500
|
$0.88
|
| Total Expenses |
$49,640
|
$6.72
|
| Net Operating Income |
$230,560
|
$31.21
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $280,200 |
| Annual Per SF | $37.93 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $280,200 |
| Annual Per SF | $37.93 |
| Taxes | |
|---|---|
| Annual | $43,140 |
| Annual Per SF | $5.84 |
| Operating Expenses | |
|---|---|
| Annual | $6,500 |
| Annual Per SF | $0.88 |
| Total Expenses | |
|---|---|
| Annual | $49,640 |
| Annual Per SF | $6.72 |
| Net Operating Income | |
|---|---|
| Annual | $230,560 |
| Annual Per SF | $31.21 |
Property Facts
| Price | $3,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $719,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.26% | Building Size | 7,387 SF |
| Gross Rent Multiplier | 12.83 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2025 |
| Property Subtype | Apartment | Parking Ratio | 0.95/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling | ||
| Price | $3,595,000 |
| Price Per Unit | $719,000 |
| Sale Type | Investment |
| Cap Rate | 6.26% |
| Gross Rent Multiplier | 12.83 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 7,387 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2025 |
| Parking Ratio | 0.95/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Refrigerator
- Sprinkler System
- Stainless Steel Appliances
- Freezer
- Island Kitchen
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 5+4.5 | 1 | $6,000 | 2,015 |
| 4+4.5 | 1 | $5,250 | 1,821 |
| 4+4 | 1 | $5,250 | 1,690 |
| 2+3 | 1 | $3,750 | 1,074 |
| 2+2 | 1 | $3,100 | 773 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 2419-005-009 | Total Assessment | $943,500 |
| Land Assessment | $581,808 | Annual Taxes | $43,140 ($5.84/SF) |
| Improvements Assessment | $361,692 | Tax Year | 2025 |
Property Taxes
Parcel Number
2419-005-009
Land Assessment
$581,808
Improvements Assessment
$361,692
Total Assessment
$943,500
Annual Taxes
$43,140 ($5.84/SF)
Tax Year
2025
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100% FULLY LEASED - REAL 6.26% CAP RATE | 10828 Hesby St
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