8-Unit Apartment
For Sale
$2,399,000
4918 Cahuenga, North Hollywood, CA 91601
Multifamily property with varied floor plans, individual water heaters, and separate gas and electric metering for each residence.
Property Size6,083 SF
Days on Market49
Property Features for 4918 Cahuenga
General Information
Standard status
Active
Size
6,083 SF
Property subtype
Apartment
Building Details
Building Size
6,083 SF
Year Built
1948
Listing Agency:
Americana Real Estate Services
Listed By:
Vahe Parsekhian · License #01398749
Source:
Milsteinestates
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 29 at 6:12PM
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 Americana Real Estate Services
Investment Insights
Based on property information with market context.
This 8-unit apartment building, constructed in 1948, offers a mix of four one-bedroom/one-bath residences, three two-bedroom/one-bath residences, and one three-bedroom/two-bath residence. Each apartment has its own water heater, while gas and electricity are separately metered by unit, supporting straightforward utility administration.
The property is located on Cahuenga Blvd in North Hollywood’s Toluca Woods area, just north of Camarillo Street. Burbank and Toluca Lake are one block away, and the Ventura Blvd retail corridor provides nearby shopping, dining, and everyday services within a short walk. North Hollywood’s residential and commercial setting also includes public transportation, cultural attractions, and entertainment-industry access.
The property is located on Cahuenga Blvd in North Hollywood’s Toluca Woods area, just north of Camarillo Street. Burbank and Toluca Lake are one block away, and the Ventura Blvd retail corridor provides nearby shopping, dining, and everyday services within a short walk. North Hollywood’s residential and commercial setting also includes public transportation, cultural attractions, and entertainment-industry access.
Key Highlights
- 8‑unit apartment building constructed in 1948
- Unit mix includes 4 one‑bedroom/one‑bath, 3 two‑bedroom/one‑bath, and 1 three‑bedroom/two‑bath residences
- Individual water heater provided for every unit
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
$97,880
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
4.08%
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%
$1,957,600
$2.0M
Cap Rate 7%
$1,398,286
$1.4M
Cap Rate 9%
$1,087,556
$1.1M
Market Conditions
NOI Build-Up for 6,083 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
$193.4K $31.80/SF
− Vacancy
−$15.5K −$2.54/SF
EGI
$178.0K $29.26/SF
− OpEx
−$80.1K −$13.17/SF
NOI
$97.9K $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%
$1,957,600
Cap Rate 7%
$1,398,286
Cap Rate 9%
$1,087,556
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,880 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $227,977 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,656
Businesses Nearby
Explore this area
Business Placement
Demographics for 91601, CA
39,429
Population
20,539
Households
1.9
Avg Household Size
35
Median Age
51%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
15,165
Density / Sq Mi
$77,540
Median Household Income
$48,907
Median Earnings
$2,115
Median Rent
$961,700
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 - Multifamily property with varied floor plans, individual water heaters, and separate gas and electric metering for each residence.
Where is this apartment building located?
The property is located at 4918 Cahuenga North Hollywood, CA.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 8‑unit apartment building constructed in 1948; Unit mix includes 4 one‑bedroom/one‑bath, 3 two‑bedroom/one‑bath, and 1 three‑bedroom/two‑bath residences; Individual water heater provided for every unit
