5-Unit Apartment
New
For Sale
$1,300,000
16057 Hartland St, Van Nuys, CA 91406
A varied unit mix includes two larger residences built in 2009 and governed by state rent control.
Property Size4,210 SF
Days on Market5
Property Features for 16057 Hartland St
General Information
Standard status
Active
Size
4,210 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
3 x 1BR/1BA, 2 x 3BR/2BA
Multifamily Units
5
Additional Details
Highway Access
Yes
Building Details
Building Size
4,210 SF
Year Built
1946
Listing Agency:
Marcus & Millichap
Listed By:
Brett Sanson · License #01387480
Source:
Frontgaterealestate
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 3:07PM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This five-unit apartment property dates to 1946 and contains three one-bedroom, one-bathroom residences alongside two three-bedroom, two-bathroom units. The two larger units were built in 2009. They are not covered by the Los Angeles City Rent Stabilization Ordinance, but remain subject to California’s AB 1482 rent control law.
The property is in Van Nuys, near Lake Balboa, Sepulveda Basin Recreation Area, shopping and dining corridors, and employment centers in the San Fernando Valley. Access to the 405 and 101 Freeways connects the area with the Valley, Westside, and greater Los Angeles.
The property is in Van Nuys, near Lake Balboa, Sepulveda Basin Recreation Area, shopping and dining corridors, and employment centers in the San Fernando Valley. Access to the 405 and 101 Freeways connects the area with the Valley, Westside, and greater Los Angeles.
Key Highlights
- Five apartments: three one‑bedroom/one‑bathroom units and two three‑bedroom/two‑bathroom units
- The two three‑bedroom units were constructed in 2009
- Those two units are exempt from the Los Angeles City RSO and subject to AB 1482
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
$67,742
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
5.21%
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%
$1,354,840
$1.4M
Cap Rate 7%
$967,743
$967.7K
Cap Rate 9%
$752,689
$752.7K
Market Conditions
NOI Build-Up for 4,210 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
$133.9K $31.80/SF
− Vacancy
−$10.7K −$2.54/SF
EGI
$123.2K $29.26/SF
− OpEx
−$55.4K −$13.17/SF
NOI
$67.7K $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%
$1,354,840
Cap Rate 7%
$967,743
Cap Rate 9%
$752,689
Alternative Uses
Best Use
Apartment 5plus
$967.7K
$846.8K – $1.13M
NOI $67,742 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,781 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,624
Businesses Nearby
Explore this area
Business Placement
Demographics for 91406, CA
53,252
Population
19,650
Households
2.7
Avg Household Size
37
Median Age
29%
College-Educated
77%
High-School Grad
8.1 sq mi
ZIP Area
6,574
Density / Sq Mi
$76,653
Median Household Income
$41,469
Median Earnings
$1,859
Median Rent
$765,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - A varied unit mix includes two larger residences built in 2009 and governed by state rent control.
Where is this apartment building located?
The property is located at 16057 Hartland St Van Nuys, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Five apartments: three one‑bedroom/one‑bathroom units and two three‑bedroom/two‑bathroom units; The two three‑bedroom units were constructed in 2009; Those two units are exempt from the Los Angeles City RSO and subject to AB 1482
