North Hollywood Multifamily Investment
10814 Blix St North Hollywood, CA 91602
10814 Blix St, North Hollywood, CA, 91602
$4,495,000
For Sale
$4,495,000
18-unit property with redevelopment potential in a desirable location.
Property Size9,435 SF
Lot Size0.45 Acres
Price / SF$476.42
Days on Market110
Property Features for 10814 Blix St
General Information
- Standard status
- Active
- Size
- 9,435 SF
- Lot size
- 0.45 Acres
- Property subtype
- Multifamily
Listing agency
Encino Office
(818) 212-2808
Listed by
Glen Scher · License #License(s): CA: 01962976
(818) 212-2808
Source
Marcusmillichap
Added: Apr 3 Updated: Jul 10 at 1:15PM Checked: Jul 21 at 3:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Encino Office
Investment Insights
Based on property information with market context.
Located in the NoHo–Valley Village neighborhood of North Hollywood, the property at 10814–10818 Blix Street is an 18-unit multifamily asset. The property spans approximately 9,435 square feet across three buildings on a 19,496-square-foot R3-1 lot. The asset includes three structures built between 1916 and 1953, featuring studios, one-bedroom, and two-bedroom units. The property includes a two-bedroom front house that will be delivered vacant. The front house includes a large private patio and in-unit laundry. The unit also includes two on-site parking spaces. In-place rents across the remaining units are approximately 10% below market. All but one of the occupied units participate in a utility bill-back program. There are two on-site garages and one storage room, all of which are currently leased. The property features on-site shared laundry with two washers and two dryers. Residents have access to a common-area patio space. The asset is not subject to the City’s Soft-Story Retrofit Program. Zoned R3-1 with TOC Tier 3 and Transit Priority Area overlays, the property supports a low-impact redevelopment concept. A buyer could remove the front duplex pad and construct an eight-unit, four-story by-right building while maintaining operations for the 16 rear RSO units. The property is centrally located near Magnolia Boulevard, Vineland Avenue, and the Metro B (Red) Line, providing walkable access to retail, dining, and major employment hubs in Universal City, Burbank, and the NoHo Arts District.
Key Highlights
- 18 legal units under Los Angeles Rent Stabilization Ordinance (RSO), offering stable income.
- Vacant two‑bedroom front house with private patio and in‑unit laundry, ideal for renovation or market‑rate rental (estimated $3,800/month).
- Significant redevelopment potential with R3‑1 zoning, TOC Tier 3, allowing for by‑right construction of an eight‑unit building.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $300.0k | $31.80 |
| − Vacancy | −$24.0k | −$2.54 |
| EGI | $276.0k | $29.26 |
| − OpEx | −$124.2k | −$13.17 |
| NOI | $151.8k | $16.09 |
9,435 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $151,817 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.05M
$4.42M – $5.89M
NOI $353,602 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 18-unit property with redevelopment potential in a desirable location.
Where is this apartment building located?
The property is located at 10814 Blix St North Hollywood, CA.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: 18 legal units under Los Angeles Rent Stabilization Ordinance (RSO), offering stable income.; **Vacant two‑bedroom front house with private patio and in‑unit laundry, ideal for renovation or market‑rate rental (estimated $3,800/month).**; **Significant redevelopment potential with R3‑1 zoning, TOC Tier 3, allowing for by‑right construction of an eight‑unit building.**
