Multi-Tenant Office Building For
11490 Burbank Boulevard North Hollywood, CA 91601
11490 Burbank Boulevard, North Hollywood, CA, 91601
$1,550,000
For Sale
$1,550,000
Three-story office building with diversified income streams for sale.
Property Size6,431 SF
Lot Size0.06 Acres
Price / SF$241.02
Days on Market134
Property Features for 11490 Burbank Boulevard
General Information
- Standard status
- Active
- Size
- 6,431 SF
- Lot size
- 0.06 Acres
- Property subtype
- Multi-Tenant Office
Building Details
- Year Built
- 1946
Listing Agency
Stevenson Real Estate Services
(818) 535-9833
Listed by
Patrick Long · License #CalDRE #01831830
(818) 535-9833
Source
Stevensonrealestate
Added: Mar 6 Checked: Jul 17 at 6:31 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 Stevenson Real Estate Services
Investment Insights
Based on property information with market context.
The property at 11490 Burbank Boulevard is a 6,431 square foot, three-story, multi-tenant office building situated on a 2,500 square foot lot. The building is currently configured into executive office suites, with sizes ranging from 41 to 285 square feet. In addition to office space, the property includes separate storage units and mailboxes available for lease, creating a diversified income stream. There is strong demand for mailboxes from businesses needing a physical address. Most leases are short-term or month-to-month, offering an owner-user the flexibility to occupy a significant portion of the building and reconfigure the space. A new roof was installed in 2022 with a 20-year warranty. Additional improvements include the replacement of three HVAC units (6 HVAC units total), new garage door openers with timers, and hard-wired video surveillance. The property is located one block west of the intersection of Burbank Boulevard and Lankershim Boulevard, near the North Hollywood Arts District. The advertised cap rate is 7.53% based on the current income and property tax estimate based on 1.2% of the sales price. An investor can lease the remaining vacant units and potentially achieve a 9.64% pro forma cap rate. The mix of smaller-sized executive offices generates higher demand and rent per square foot compared to other office buildings. The property is near the southeast corner of Burbank Boulevard and Camellia Avenue.
Key Highlights
- High Income Potential: Current 7.53% cap rate, pro forma potential to reach 9.64% by leasing vacant units.
- Flexible Usage: Short‑term leases allow for owner‑user occupancy and reconfiguration.
- Diversified Income: Benefit from multiple income streams including executive office suites, storage units, and mailboxes.
Local Financial Insights For Office B
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 | $247.0k | $38.40 |
| − Vacancy | −$59.5k | −$9.25 |
| EGI | $187.4k | $29.15 |
| − OpEx | −$46.9k | −$7.29 |
| NOI | $140.6k | $21.86 |
6,431 SF · lease $38.40/SF/yr · vacancy 24.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.01M
$1.76M – $2.34M
NOI $140,577 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.44M
$3.01M – $4.02M
NOI $241,019 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mario Orellana Tax ...
Tax Preparation
Daylight Electric North ...
Electrical Service
A-1 Computer Repair
Computer & Electronic Repair
Southern Belle Couture
Clothing Store
Aram Trucking
Trucking Company
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FAQs
What type of property is this?
Office building - Three-story office building with diversified income streams for sale.
Where is this office building located?
The property is located at 11490 Burbank Boulevard North Hollywood, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: High Income Potential: Current 7.53% cap rate, pro forma potential to reach 9.64% by leasing vacant units.; Flexible Usage: Short‑term leases allow for owner‑user occupancy and reconfiguration.; Diversified Income: Benefit from multiple income streams including executive office suites, storage units, and mailboxes.
