16-Unit Apartment
For Sale
$4,900,000
4824 Hazeltine Ave, Sherman Oaks, CA 91423
Two apartment buildings include mostly renovated units and a shared courtyard setting.
Property Size14,136 SF
Days on Market11
Property Features for 4824 Hazeltine Ave
General Information
Standard status
Active
Size
14,136 SF
Total Parking Spaces
16
Property subtype
Apartment
Additional Details
Multifamily Units
16
Amenities
courtyard
Building Details
Building Size
14,136 SF
Year Built
1958
Buildings
2
Listing Agency:
D.M.C. Real Estate Co.
Listed By:
Simon Asef · License #01726727
Source:
Truthrealty
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 4:03PM
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 D.M.C. Real Estate Co.
Investment Insights
Based on property information with market context.
This apartment property consists of 16 units across two buildings: 4824 Hazeltine Ave contains 8 units, while 4832 Hazeltine Ave contains another 8 units under separate APNs. The buildings date to 1958, and most units have been renovated. A courtyard provides shared outdoor space, and the property includes 16 parking spaces.
The property is located in Sherman Oaks at 4824 Hazeltine Ave, with the companion building at 4832 Hazeltine Ave. Trader Joe’s locations are situated across the street, while Van Nuys/Sherman Oaks Park is also nearby. Westfield Fashion Square mall is within walking distance of the property.
The property is located in Sherman Oaks at 4824 Hazeltine Ave, with the companion building at 4832 Hazeltine Ave. Trader Joe’s locations are situated across the street, while Van Nuys/Sherman Oaks Park is also nearby. Westfield Fashion Square mall is within walking distance of the property.
Key Highlights
- 16 units distributed evenly between two apartment buildings
- Separate APNs for 4824 Hazeltine Ave and 4832 Hazeltine Ave
- 16 parking spaces included
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
$227,460
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
4.64%
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%
$4,549,200
$4.5M
Cap Rate 7%
$3,249,429
$3.2M
Cap Rate 9%
$2,527,333
$2.5M
Market Conditions
NOI Build-Up for 14,136 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
$449.5K $31.80/SF
− Vacancy
−$36.0K −$2.54/SF
EGI
$413.6K $29.26/SF
− OpEx
−$186.1K −$13.17/SF
NOI
$227.5K $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%
$4,549,200
Cap Rate 7%
$3,249,429
Cap Rate 9%
$2,527,333
Alternative Uses
Best Use
Apartment 5plus
$3.25M
$2.84M – $3.79M
NOI $227,460 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.57M
$6.62M – $8.83M
NOI $529,785 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
2,824
Businesses Nearby
Explore this area
Business Placement
Demographics for 91423, CA
32,635
Population
16,678
Households
2
Avg Household Size
40
Median Age
63%
College-Educated
97%
High-School Grad
4.1 sq mi
ZIP Area
7,960
Density / Sq Mi
$112,119
Median Household Income
$66,538
Median Earnings
$2,239
Median Rent
$1,323,500
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 - Two apartment buildings include mostly renovated units and a shared courtyard setting.
Where is this apartment building located?
The property is located at 4824 Hazeltine Ave Sherman Oaks, CA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 16 units distributed evenly between two apartment buildings; Separate APNs for 4824 Hazeltine Ave and 4832 Hazeltine Ave; 16 parking spaces included
