Zoned R-3 Eight-Unit
11414 Calvert Street North Hollywood, CA 91606
11414 Calvert Street, North Hollywood, CA, 91606
$2,500,000
For Sale
$2,500,000
An eight-unit apartment building on a 31,730 sf R-3 lot with existing income and options for entitlement or ADUs.
Property Size5,224 SF
Lot Size0.73 Acres
Price / SF$478.56
Days on Market61
Property Features for 11414 Calvert Street
General Information
- Standard status
- Active
- Size
- 5,224 SF
- Lot size
- 0.73 Acres
- Property subtype
- Lots/Land
Listing Agency
Equity Union
(818) 640-4360
Listed by
Cindy Hill · License #00885625
(818) 640-4360
Source
Exitrealty
Added: May 19 Checked: Jul 17 at 5:02 am
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.
The property is an eight-unit apartment building constructed in 1955, situated on a 31,730 sf lot zoned R-3. Six of the units are currently rented. The unit mix includes (2) studio units, (2) 1+1 units, (3) 2+1 units, and (1) 3+2 unit, for a total of 5,224 rentable square feet. For a buyer, the R-3 zoning supports either keeping the existing structure for continued rental income or pursuing added entitlements and ADUs.
Located in North Hollywood, the property benefits from proximity to public transportation, including Metro rail at the North Hollywood Red Line and Orange Line bus ways. Residents also have convenient access to the 101, 170, and 134 freeways. North Hollywood’s NoHo Arts District is described as an expanding, pedestrian-friendly urban village with shopping, dining, theaters, art galleries, cafes, music recording venues, and shops.
This offering is well suited for investors seeking an occupied, income-producing multifamily asset while evaluating a development path under R-3 zoning. It also fits developers and builders looking to preserve some rental income during the entitlement process or to add ADUs alongside the existing building.
Located in North Hollywood, the property benefits from proximity to public transportation, including Metro rail at the North Hollywood Red Line and Orange Line bus ways. Residents also have convenient access to the 101, 170, and 134 freeways. North Hollywood’s NoHo Arts District is described as an expanding, pedestrian-friendly urban village with shopping, dining, theaters, art galleries, cafes, music recording venues, and shops.
This offering is well suited for investors seeking an occupied, income-producing multifamily asset while evaluating a development path under R-3 zoning. It also fits developers and builders looking to preserve some rental income during the entitlement process or to add ADUs alongside the existing building.
Key Highlights
- 31,730 sf lot zoned R‑3 with an existing 8‑unit apartment building and current rental income
- Unit mix includes 2 studio units, 2 (1+1) units, 3 (2+1) units, and 1 (3+2) unit
- Building constructed in 1955; total rentable area is 5,224 SF
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 | $166.1k | $31.80 |
| − Vacancy | −$13.3k | −$2.54 |
| EGI | $152.8k | $29.26 |
| − OpEx | −$68.8k | −$13.17 |
| NOI | $84.1k | $16.09 |
5,224 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,058 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M
NOI $195,784 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - An eight-unit apartment building on a 31,730 sf R-3 lot with existing income and options for entitlement or ADUs.
Where is this apartment building located?
The property is located at 11414 Calvert Street North Hollywood, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 31,730 sf lot zoned R‑3 with an existing 8‑unit apartment building and current rental income; Unit mix includes 2 studio units, 2 (1+1) units, 3 (2+1) units, and 1 (3+2) unit; Building constructed in 1955; total rentable area is 5,224 SF
