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11249 Emelita St 6 Unit Apartment Building $1,200,000 ($200,000/Unit) 5.38% Cap Rate North Hollywood, CA 91601
Investment Highlights
- 6 units in excellent North Hollywood rental pockets. Minutes from Noho Arts District, Metro Station, and the 101, 170, and 134 freeways
- Attractive unit mix consisting of (4) 1+1 units and (2) 2+2 units
- Property was built in 1978 and is subject to AB 1482 rent control
- Value add opportunity with strong rental upside
Executive Summary
Equity Union Commercial is proud to represent this 6 unit property in North Hollywood.
The property was constructed in 1978. Its unit mix consists of (2) 2+2 units and (4) 1+1 units. With a lot size of 6,747 square feet, the property has a total of 4,110 rentable square feet.
North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation with the Metro rail stations and the North Hollywood Red Line and Orange line bus ways. They also have easy access to the 101, 170, and 134 freeways. North Hollywood is currently working on a $1 billion mixed-use development at Lankershim and Chandler; the project will re-develop 15.6 acres of commercial and residential space, including 562 residential units and three high-rise office towers. This, combined with an already thriving Arts District, makes North Hollywood a smart place to invest.
The property was constructed in 1978. Its unit mix consists of (2) 2+2 units and (4) 1+1 units. With a lot size of 6,747 square feet, the property has a total of 4,110 rentable square feet.
North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation with the Metro rail stations and the North Hollywood Red Line and Orange line bus ways. They also have easy access to the 101, 170, and 134 freeways. North Hollywood is currently working on a $1 billion mixed-use development at Lankershim and Chandler; the project will re-develop 15.6 acres of commercial and residential space, including 562 residential units and three high-rise office towers. This, combined with an already thriving Arts District, makes North Hollywood a smart place to invest.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.38% | Building Size | 10,672 SF |
| Gross Rent Multiplier | 10.54 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1978 |
| Property Type | Multifamily | Parking Ratio | 0.56/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LARD2 | ||
| Price | $1,200,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| Gross Rent Multiplier | 10.54 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 10,672 SF |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 0.56/1,000 SF |
| Zoning | LARD2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+2 | 2 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2337-015-028 | Improvements Assessment | $312,370 |
| Land Assessment | $195,221 | Total Assessment | $507,591 |
Property Taxes
Parcel Number
2337-015-028
Land Assessment
$195,221
Improvements Assessment
$312,370
Total Assessment
$507,591
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11249 Emelita St