6-Unit Office
New
For Sale
$1,200,000
11486 Burbank Blvd, Los Angeles, CA 91601
Two-story property combines leased healthcare suites with additional space ready for occupancy.
Property Size2,400 SF
Days on Market1
Property Features for 11486 Burbank Blvd
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Zoning
LAC4
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
6
Building Details
Building Size
2,400 SF
Year Built
1943
Buildings
1
Stories
2
Units
6
Tenancy
Multi
Listed By:
Nick Nekoo
(310) 906-0055
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 2:30PM
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 Nick Nekoo
Investment Insights
Based on property information with market context.
This two-story office building contains six suites. Two are renovated and leased to healthcare tenants, while four are available for lease-up. The rear yard and alley access offer a potential route to adding dedicated parking; parking is not described as currently installed.
The property is on Burbank Boulevard in North Hollywood, approximately 0.5 miles from the North Hollywood Metro Station, served by the B/Red and G/Orange lines. Zoning is LAC4, with confirmed TOC Tier 3 status. AB 2097 provides no minimum parking requirement under state law.
The adjacent parcel at 11482 Burbank Boulevard is separately available. Together, the contiguous parcels support the potential for up to 23 mixed-use units across six stories under confirmed TOC Tier 3 zoning.
The property is on Burbank Boulevard in North Hollywood, approximately 0.5 miles from the North Hollywood Metro Station, served by the B/Red and G/Orange lines. Zoning is LAC4, with confirmed TOC Tier 3 status. AB 2097 provides no minimum parking requirement under state law.
The adjacent parcel at 11482 Burbank Boulevard is separately available. Together, the contiguous parcels support the potential for up to 23 mixed-use units across six stories under confirmed TOC Tier 3 zoning.
Key Highlights
- Two‑story office building with six suites
- Two renovated suites are leased to healthcare tenants; four additional suites are ready for lease‑up
- LAC4 zoning with confirmed TOC Tier 3 status
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
$56,967
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
4.75%
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%
$1,139,340
$1.1M
Cap Rate 7%
$813,814
$813.8K
Cap Rate 9%
$632,967
$633.0K
Market Conditions
NOI Build-Up for 2,400 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
$93.3K $38.88/SF
− Vacancy
−$17.4K −$7.23/SF
EGI
$76.0K $31.65/SF
− OpEx
−$19.0K −$7.91/SF
NOI
$57.0K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$1,139,340
Cap Rate 7%
$813,814
Cap Rate 9%
$632,967
Alternative Uses
Best Use
Office B
$813.8K
$712.1K – $949.5K
NOI $56,967 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$48.62M
$42.54M – $56.73M
NOI $3,403,579 @ 7.0% cap · market cap 283.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,359
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story property combines leased healthcare suites with additional space ready for occupancy.
Where is this office building located?
The property is located at 11486 Burbank Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑story office building with six suites; Two renovated suites are leased to healthcare tenants; four additional suites are ready for lease‑up; LAC4 zoning with confirmed TOC Tier 3 status
