27-Unit Apartment
For Sale
$5,700,000
Pending
13061 Vanowen Street, North Hollywood, CA 91605
Built in 1962, this 27-unit multifamily property offers 2+1 unit configurations with 24,614 rentable square feet.
Property Size24,614 SF
Days on Market370
Property Features for 13061 Vanowen Street
General Information
Standard status
Pending
Size
24,614 SF
Total Parking Spaces
27
Property subtype
Residential Income / Res Income 2-4 Units
Zoning
LAR3
Net Operating Income
$342,015
Building Details
Year Built
1962
Buildings
1
Units
27
Listing Agency:
Equity Union
Listed By:
Cindy Hill · License #00885625
(818) 989-2000
Source:
Compass
Added: Sep 3, 2025
Changed: Aug 25
Last Checked: Sep 7 at 11:52AM
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 27-unit apartment building was constructed in 1962 and is configured with 27 two-bedroom plus one-bath units. The property includes 24,614 rentable square feet on a 24,371-square-foot lot.
Located in North Hollywood, the area is known for its NoHo Arts District and access to public transportation, including the Metro Red Line and Orange Line bus routes, as well as nearby access to the 101, 170, and 134 freeways.
The building is offered for sale as a residential income property within a neighborhood that is also undergoing a major mixed-use redevelopment at Lankershim and Chandler.
Located in North Hollywood, the area is known for its NoHo Arts District and access to public transportation, including the Metro Red Line and Orange Line bus routes, as well as nearby access to the 101, 170, and 134 freeways.
The building is offered for sale as a residential income property within a neighborhood that is also undergoing a major mixed-use redevelopment at Lankershim and Chandler.
Key Highlights
- 27‑unit multifamily property built in 1962
- Unit mix: (27) 2+1 units
- 24,614 rentable square feet total
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
$396,059
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
6.95%
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%
$7,921,180
$7.9M
Cap Rate 7%
$5,657,986
$5.7M
Cap Rate 9%
$4,400,656
$4.4M
Market Conditions
NOI Build-Up for 24,614 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
$782.7K $31.80/SF
− Vacancy
−$62.6K −$2.54/SF
EGI
$720.1K $29.26/SF
− OpEx
−$324.0K −$13.17/SF
NOI
$396.1K $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%
$7,921,180
Cap Rate 7%
$5,657,986
Cap Rate 9%
$4,400,656
Alternative Uses
Best Use
Apartment 5plus
$5.66M
$4.95M – $6.60M
NOI $396,059 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.18M
$11.53M – $15.37M
NOI $922,477 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,404
Businesses Nearby
Explore this area
Business Placement
Demographics for 91605, CA
54,341
Population
17,206
Households
3.2
Avg Household Size
36
Median Age
22%
College-Educated
71%
High-School Grad
5.4 sq mi
ZIP Area
10,063
Density / Sq Mi
$64,539
Median Household Income
$32,751
Median Earnings
$1,736
Median Rent
$729,900
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 - Built in 1962, this 27-unit multifamily property offers 2+1 unit configurations with 24,614 rentable square feet.
Where is this apartment building located?
The property is located at 13061 Vanowen Street North Hollywood, CA.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: 27‑unit multifamily property built in 1962; Unit mix: (27) 2+1 units; 24,614 rentable square feet total
