Eight-Unit R-3 Apartment
For Sale
$2,250,000
11414 Calvert, North Hollywood, CA 91606
Existing rental income comes from six occupied units across a varied residential configuration.
Property Size5,224 SF
Lot Size0.73 Acres
Days on Market204
Property Features for 11414 Calvert
General Information
Standard status
Active
Size
5,224 SF
Net Rentable
5,224 SF
Lot size
0.73 Acres
Property subtype
Apartment
Zoning
R-3
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x studio, 2 x 1+1, 3 x 2+1, 1 x 3+2
Multifamily Units
8
Building Details
Building Size
5,224 SF
Year Built
1955
Listing Agency:
Equity Union
(818) 640-4360
Listed By:
Cindy Hill · License #00885625
Source:
Archetyperealty
Added: Jan 20
Changed: Aug 9
Last Checked: Aug 11 at 1:01PM
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 Equity Union
Investment Insights
Based on property information with market context.
This North Hollywood apartment property includes eight units on a 31,730-square-foot lot with 5,224 rentable square feet. Built in 1955, the building offers a mix of two studio units, two 1+1 units, three 2+1 units, and one 3+2 unit. Six units are currently rented, providing existing occupancy within the property’s R-3 zoning framework.
The property is located in North Hollywood, with access to Metro rail stations, the North Hollywood Red Line, Orange Line busways, and the 101, 170, and 134 freeways. The surrounding area includes the NoHo Arts District, theaters, galleries, cafes, restaurants, bars, recording venues, and shops.
The property is located in North Hollywood, with access to Metro rail stations, the North Hollywood Red Line, Orange Line busways, and the 101, 170, and 134 freeways. The surrounding area includes the NoHo Arts District, theaters, galleries, cafes, restaurants, bars, recording venues, and shops.
Key Highlights
- 31,730 sf lot zoned R‑3
- Eight‑unit apartment building constructed in 1955
- 5,224 rentable square feet
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
$84,058
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
3.74%
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%
$1,681,160
$1.7M
Cap Rate 7%
$1,200,829
$1.2M
Cap Rate 9%
$933,978
$934.0K
Market Conditions
NOI Build-Up for 5,224 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
$166.1K $31.80/SF
− Vacancy
−$13.3K −$2.54/SF
EGI
$152.8K $29.26/SF
− OpEx
−$68.8K −$13.17/SF
NOI
$84.1K $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%
$1,681,160
Cap Rate 7%
$1,200,829
Cap Rate 9%
$933,978
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,058 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M
NOI $195,784 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 91606, CA
43,955
Population
16,563
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
78%
High-School Grad
3.3 sq mi
ZIP Area
13,320
Density / Sq Mi
$66,884
Median Household Income
$36,497
Median Earnings
$1,744
Median Rent
$801,300
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 - Existing rental income comes from six occupied units across a varied residential configuration.
Where is this apartment building located?
The property is located at 11414 Calvert North Hollywood, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 31,730 sf lot zoned R‑3; Eight‑unit apartment building constructed in 1955; 5,224 rentable square feet
