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11275 Huston St
North Hollywood, CA 91601
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Great North Hollywood Location
- Strong Initial Return - 6.94% Cap Rate
- On-Site Tuck-Under Parking Available
- Delivered 50% Vacant
- Soft-Story Retrofit Completed in 2017
- Good Unit Mix
Executive Summary
Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 11275 Huston Street in North Hollywood, California. The subject property is located in a great North Hollywood location, west of Lankershim Boulevard and south of Magnolia Boulevard.
Situated in a great North Hollywood location, the property features a desirable unit mix of five one-bedroom and three two-bedroom units and will be delivered 50% vacant, allowing market rents from day one. The offering provides a strong initial return at a 6.94% cap rate, complemented by great curb appeal, soft-story retrofit completion, and on-site tuck-under parking with an excellent opportunity for ADU conversion. The asset benefits from dominant access to major commercial corridors including Burbank, Lankershim, Vineland, and Tujunga Boulevards, as well as immediate connectivity to the 170 and 101 freeways. Tenants and visitors enjoy proximity to the North Hollywood Recreation Center, the North Hollywood Metro station, and the vibrant NoHo Arts District with theaters, cafés, restaurants, and nightlife.
Overall, the property presents a compelling value-add opportunity through the ability to lease or renovate the vacant units and potentially convert the existing tuck-under parking into ADUs, all while benefiting from a strong in-place 6.94% cap rate that provides attractive initial cash flow.
Situated in a great North Hollywood location, the property features a desirable unit mix of five one-bedroom and three two-bedroom units and will be delivered 50% vacant, allowing market rents from day one. The offering provides a strong initial return at a 6.94% cap rate, complemented by great curb appeal, soft-story retrofit completion, and on-site tuck-under parking with an excellent opportunity for ADU conversion. The asset benefits from dominant access to major commercial corridors including Burbank, Lankershim, Vineland, and Tujunga Boulevards, as well as immediate connectivity to the 170 and 101 freeways. Tenants and visitors enjoy proximity to the North Hollywood Recreation Center, the North Hollywood Metro station, and the vibrant NoHo Arts District with theaters, cafés, restaurants, and nightlife.
Overall, the property presents a compelling value-add opportunity through the ability to lease or renovate the vacant units and potentially convert the existing tuck-under parking into ADUs, all while benefiting from a strong in-place 6.94% cap rate that provides attractive initial cash flow.
Property Facts
| Price Per Unit | $236,875 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.94% | Lot Size | 0.16 AC |
| Gross Rent Multiplier | 9.98 | Building Size | 9,620 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 0.31/1,000 SF |
| Zoning | LAR3 | ||
| Price Per Unit | $236,875 |
| Sale Type | Investment |
| Cap Rate | 6.94% |
| Gross Rent Multiplier | 9.98 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 9,620 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.31/1,000 SF |
| Zoning | LAR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 682 |
| 2+1 | 3 | - | 682 |
Property Taxes
| Parcel Number | 2353-016-017 | Improvements Assessment | $184,825 |
| Land Assessment | $61,498 | Total Assessment | $246,323 |
Property Taxes
Parcel Number
2353-016-017
Land Assessment
$61,498
Improvements Assessment
$184,825
Total Assessment
$246,323
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