New Construction 5-Unit Apartment
New
For Sale
$3,699,999
10826 Hesby Street, North Hollywood, CA 91601
Fully leased multifamily property with modern interiors, private balconies, in-unit laundry, solar panels, and separately metered utilities.
Property Size7,387 SF
Price / SF$500.88
Days on Market5
Property Features for 10826 Hesby Street
General Information
Standard status
Active
Size
7,387 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Financials
Cap Rate
6.26%
Gross Income
$280,200
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/4.5BA, 1 x 4BR/4BA, 1 x 5BR/4.5BA, 1 x 2BR/3BA, 1 x 2BR/2BA
Multifamily Units
5
Amenities
solar panels
washer/dryer in unit
balconies
high ceilings
stainless steel appliances
Building Details
Building Size
7,387 SF
Year Built
2025
Buildings
1
Listing Agency:
Keller Williams Hollywood Hills
(310) 623-1300
Listed By:
Daniel Lalezari · License #01949474
Source:
Milsteinestates
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 10 at 9:39AM
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 Keller Williams Hollywood Hills
Investment Insights
Based on property information with market context.
Completed in 2025, this five-unit apartment building contains 7,387 square feet of livable area and is fully leased. The unit mix includes two four-bedroom residences, one five-bedroom residence, and two two-bedroom residences, with bathrooms ranging from two to 4.5. Interiors feature open layouts, kitchen islands, quartz countertops, contemporary cabinetry, vinyl flooring, stainless steel appliances, high ceilings, large closets, and private balconies. Each residence also includes in-unit laundry, while utilities are separately metered and paid by tenants. Solar panels and a one-year builder’s warranty are included. The property is non-rent-controlled and reports a 6.26% cap rate.
Located in North Hollywood’s Arts District, the building is near coffee shops, galleries, restaurants, gyms, theaters, entertainment venues, bars, and grocery stores. The surrounding area also provides access to Toluca Lake, Studio City, Universal Studios, and Burbank, with freeway and public transit connections identified in the property information.
Located in North Hollywood’s Arts District, the building is near coffee shops, galleries, restaurants, gyms, theaters, entertainment venues, bars, and grocery stores. The surrounding area also provides access to Toluca Lake, Studio City, Universal Studios, and Burbank, with freeway and public transit connections identified in the property information.
Key Highlights
- 2025 construction with 5 units and 7,387 square feet of livable area
- 100% leased and non‑rent controlled
- Unit mix includes two 4‑bedroom, one 5‑bedroom, and two 2‑bedroom residences
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
$118,863
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
3.21%
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%
$2,377,260
$2.4M
Cap Rate 7%
$1,698,043
$1.7M
Cap Rate 9%
$1,320,700
$1.3M
Market Conditions
NOI Build-Up for 7,387 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
$234.9K $31.80/SF
− Vacancy
−$18.8K −$2.54/SF
EGI
$216.1K $29.26/SF
− OpEx
−$97.3K −$13.17/SF
NOI
$118.9K $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%
$2,377,260
Cap Rate 7%
$1,698,043
Cap Rate 9%
$1,320,700
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.49M – $1.98M
NOI $118,863 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.95M
$3.46M – $4.61M
NOI $276,848 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,065
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property with modern interiors, private balconies, in-unit laundry, solar panels, and separately metered utilities.
Where is this apartment building located?
The property is located at 10826 Hesby Street North Hollywood, CA.
What is the asking price?
The asking price for this property is $3,699,999.
What are key features of this property?
This property features: 2025 construction with 5 units and 7,387 square feet of livable area; 100% leased and non‑rent controlled; Unit mix includes two 4‑bedroom, one 5‑bedroom, and two 2‑bedroom residences
