Newly Built 12-Unit Apartment
For Sale
$7,179,000
10821 Hartsook St, North Hollywood, CA 91601
Two-building multifamily property with townhouse residences, ADUs, solar panels, and individually metered utilities.
Property Size18,432 SF
Days on Market8
Property Features for 10821 Hartsook St
General Information
Standard status
Active
Size
18,432 SF
Property subtype
MULTI_FAMILY
Building Details
Building Size
18,432 SF
Year Built
2024
Listing Agency:
Trimax Realty, Inc.
Listed By:
Fred Nabati · License #01276914
(310) 954-0808
Source:
Milsteinestates
Added: Sep 11
Changed: Sep 18
Last Checked: Sep 18 at 11:33AM
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 Trimax Realty, Inc.
Investment Insights
Based on property information with market context.
Completed in 2024, this multifamily property comprises two buildings with 12 residences. The unit mix includes 8 four-bedroom townhouses with 4.5 bathrooms each and 4 three-bedroom ADUs with 3 bathrooms each. Interior features include LVT flooring, quartz kitchen countertops, designer tile backsplashes, modern bathroom finishes, high-efficiency appliances, and keypad entry. Each unit has individually metered utilities, while owned solar panels and desert landscaping are included among the property improvements.
The property is located on Hartsook St in North Hollywood’s Arts District, with restaurants, coffee shops, bars, dog parks, green spaces, Metro stations, public transit, Burbank Airport, and NOHO West shopping and entertainment nearby. The 8 townhouse units are fully rented, and the property is reported with a 7.10% cap rate.
The property is located on Hartsook St in North Hollywood’s Arts District, with restaurants, coffee shops, bars, dog parks, green spaces, Metro stations, public transit, Burbank Airport, and NOHO West shopping and entertainment nearby. The 8 townhouse units are fully rented, and the property is reported with a 7.10% cap rate.
Key Highlights
- 12 units across two buildings, including 8 townhouses and 4 ADUs
- 8 four‑bedroom, 4.5‑bath townhouse units and 4 three‑bedroom, 3‑bath ADUs
- Completed in 2024 with LVT flooring, quartz countertops, and designer tile finishes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$296,586
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,931,720
$5.9M
Cap Rate 7%
$4,236,943
$4.2M
Cap Rate 9%
$3,295,400
$3.3M
Market Conditions
NOI Build-Up for 18,432 SF
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.
Gross rent
$586.1K $31.80/SF
− Vacancy
−$46.9K −$2.54/SF
EGI
$539.2K $29.26/SF
− OpEx
−$242.7K −$13.17/SF
NOI
$296.6K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,931,720
Cap Rate 7%
$4,236,943
Cap Rate 9%
$3,295,400
Alternative Uses
Best Use
Apartment 5plus
$4.24M
$3.71M – $4.94M
NOI $296,586 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.87M
$8.63M – $11.51M
NOI $690,789 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 91601, CA
39,429
Population
20,539
Households
1.9
Avg Household Size
35
Median Age
51%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
15,165
Density / Sq Mi
$77,540
Median Household Income
$48,907
Median Earnings
$2,115
Median Rent
$961,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily property with townhouse residences, ADUs, solar panels, and individually metered utilities.
Where is this apartment building located?
The property is located at 10821 Hartsook St North Hollywood, CA.
What is the asking price?
The asking price for this property is $7,179,000.
What are key features of this property?
This property features: 12 units across two buildings, including 8 townhouses and 4 ADUs; 8 four‑bedroom, 4.5‑bath townhouse units and 4 three‑bedroom, 3‑bath ADUs; Completed in 2024 with LVT flooring, quartz countertops, and designer tile finishes
