11314 Martha St 5 Unit Apartment Building $3,995,000 ($799,000/Unit) 5.90% Cap Rate North Hollywood, CA 91601

Welcome to 11314 Martha Street, a stunning, brand-new construction, non-rent-controlled, five-unit townhouse investment in the heart of the NoHo Arts District. This exceptional property is 100% leased to families, contributing to historically low tenant turnover, with over 88% of rents backed by the Housing Authority of the City of Los Angeles (HACLA). The asset delivers a stable, government-guaranteed annual income of $307,428 at an impressive 5.90% cap rate.

This is a major value-add opportunity with preliminary in-place plans to convert the one garage space into two studio units and to construct two detached one-bedroom accessory dwelling units (ADUs) on the lot. With HACLA voucher rates in the 91601 zip code at approximately $2,299/month for studios and $2,585/month for one-bedrooms, these additions could generate roughly $90,000 in additional annual income, translating to approximately $1,160,000 in added value at current cap rates. This presents a rare opportunity to acquire a stabilized, cash-flowing asset with meaningful built-in upside.

Located in the prime NoHo Arts District, this property is situated in a growing area with steadily increasing property values. 11314 Martha Street offers excellent accessibility, with great proximity to Interstate 5, 170, and 101 freeways, as well as convenient access to Metro transit. Nearby amenities include the popular NOHO West retail hub, Universal CityWalk, North Hollywood Park, and local recreation centers. Residents appreciate surroundings that are rich in culture and entertainment, featuring the El Portal Theatre, along with a variety of dining options, cafés, and cultural venues. Altogether, this desirable NoHo location combines cultural vitality, everyday convenience, and strong connectivity, making it an attractive place to live for long-term residents.