7-Unit Apartment
For Sale
$1,850,000
12020 Hamlin Street, North Hollywood, CA 91606
Well-maintained 7-unit apartment building with gated entry, carport and open parking, plus a mix of 1- and 2-bedroom units.
Property Size6,266 SF
Price / SF$295.24
Days on Market142
Property Features for 12020 Hamlin Street
General Information
Standard status
Active
Size
6,266 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
7
Amenities
secure gated entry
private patios or balconies
Building Details
Building Size
6,266 SF
Year Built
1963
Tenancy
Multi
Listing Agency:
JohnHart Real Estate
(818) 246-1099
Listed By:
Arsen Grigoryan · License #02216049
Source:
Truthrealty
Added: Apr 10
Changed: Aug 27
Last Checked: Aug 28 at 7:06PM
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 JohnHart Real Estate
Investment Insights
Based on property information with market context.
This well-maintained 7-unit apartment building provides 6,266 square feet of living space and a unit mix of three 2-bedroom, 2-bath units and four 1-bedroom, 1-bath units. The exterior is clean and low maintenance, with a secure gated entry and a combination of carport and open parking. Several units include private patios or balconies, and the layout is designed to support privacy and natural light.
The property is situated on a corner lot with excellent frontage and curb appeal.
For buyers seeking a value-add approach, the offering is presented as having upside through modernization or strategic tenant turnover.
The property is situated on a corner lot with excellent frontage and curb appeal.
For buyers seeking a value-add approach, the offering is presented as having upside through modernization or strategic tenant turnover.
Key Highlights
- Well‑maintained 7‑unit apartment building with 6,266 SF of living space
- Unit mix includes three 2 bed, 2 bath units and four 1 bed, 1 bath units
- Secure gated entry, plus carport and open parking
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
$100,825
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
5.45%
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%
$2,016,500
$2.0M
Cap Rate 7%
$1,440,357
$1.4M
Cap Rate 9%
$1,120,278
$1.1M
Market Conditions
NOI Build-Up for 6,266 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
$199.3K $31.80/SF
− Vacancy
−$15.9K −$2.54/SF
EGI
$183.3K $29.26/SF
− OpEx
−$82.5K −$13.17/SF
NOI
$100.8K $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%
$2,016,500
Cap Rate 7%
$1,440,357
Cap Rate 9%
$1,120,278
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,825 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.94M – $3.91M
NOI $234,835 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,087
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 - Well-maintained 7-unit apartment building with gated entry, carport and open parking, plus a mix of 1- and 2-bedroom units.
Where is this apartment building located?
The property is located at 12020 Hamlin Street North Hollywood, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Well‑maintained 7‑unit apartment building with 6,266 SF of living space; Unit mix includes three 2 bed, 2 bath units and four 1 bed, 1 bath units; Secure gated entry, plus carport and open parking
