Four-Unit Quadplex with
New
For Sale
$800,000
6621 Whitsett Ave, North Hollywood, CA 91606
On-site laundry and storage generate supplemental income alongside residential rents.
Property Size2,168 SF
Days on Market2
Property Features for 6621 Whitsett Ave
General Information
Standard status
Active
Size
2,168 SF
Property subtype
Multifamily
Amenities
New Roof in 2025 and Full Copper Plumbing
Excellent Value-Add Opportunity — Rents Approximately 80% Below Market
Multiple Supplemental Revenue Streams, Including On-Site Laundry and Storage Rooms
One Thoroughly Remodeled Unit, Providing Blueprint for Future Upgrades
Only One Mile from New NOHO West Shopping Center
Convenient Access to the 101 and 170 Freeways
Short Distance to Trendy Dining and Shopping of NoHo Arts District
Building Details
Building Size
2,168 SF
Units
4
Listed By:
Ben Savoy · License #License(s): CA: 02185544
(213) 943-1815
Source:
Marcusmillichap
Added: Sep 30
Last Checked: Oct 1 at 7:56AM
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 Ben Savoy
Investment Insights
Based on property information with market context.
This North Hollywood quadplex contains four residential units, including one that has been remodeled. A roof installed in 2025 and full copper plumbing are among the property’s documented improvements. On-site laundry and storage rooms provide additional income sources.
The property is near the intersection of Victory Boulevard and Whitsett Avenue, with access to the 101, 170, and 5 Freeways.
The property is near the intersection of Victory Boulevard and Whitsett Avenue, with access to the 101, 170, and 5 Freeways.
Key Highlights
- Four residential units, including one remodeled unit
- Roof installed in 2025
- Full copper plumbing
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
$37,861
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
4.73%
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%
$757,220
$757.2K
Cap Rate 7%
$540,871
$540.9K
Cap Rate 9%
$420,678
$420.7K
Market Conditions
NOI Build-Up for 2,168 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
$58.5K $27.00/SF
− Vacancy
−$4.4K −$2.05/SF
EGI
$54.1K $24.95/SF
− OpEx
−$16.2K −$7.48/SF
NOI
$37.9K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$757,220
Cap Rate 7%
$540,871
Cap Rate 9%
$420,678
Alternative Uses
Best Use
Multifamily LT 5
$540.9K
$473.3K – $631.0K
NOI $37,861 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$498.4K
$436.1K – $581.4K
NOI $34,885 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,252 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,747
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - On-site laundry and storage generate supplemental income alongside residential rents.
Where is this quadplex located?
The property is located at 6621 Whitsett Ave North Hollywood, CA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Four residential units, including one remodeled unit; Roof installed in 2025; Full copper plumbing
