6-Unit Apartment Building with
For Sale
$2,199,000
5005 Cahuenga, North Hollywood, CA 91601
Leased units feature private laundry rooms, individual utility meters, and access to a shared rear courtyard.
Property Size6,224 SF
Days on Market9
Property Features for 5005 Cahuenga
General Information
Standard status
Active
Size
6,224 SF
Property subtype
Multi Family
Building Details
Building Size
6,224 SF
Year Built
1948
Listing Agency:
Rodeo Realty
Listed By:
Laurence Cook · License #02070820
(818) 564-6176
Source:
Truthrealty
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 26 at 2:06PM
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 Rodeo Realty
Investment Insights
Based on property information with market context.
This two-story apartment property at 5005 Cahuenga in North Hollywood contains six leased units and was built in 1948. The units retain mid-century details including crown molding, coffered ceilings, hardwood floors, latticed windows, metal awnings, decorative wrought-iron rails, and porch or patio areas on the lower level. Each residence includes a private laundry room with washer and dryer, an oven, refrigerator, dishwasher, and separate gas and electric meters. Three-bedroom and two-bedroom layouts include three bathrooms with a full bath, three-quarter bath, and powder room.
Recent work includes new electrical panels throughout, new HVAC systems in five units, and exterior painting covering the walls, fences, windows, and handrails. Each unit has a detached one-car garage with alley access. Residents also share a rear entertainment courtyard, along with grassy areas and mature shade and fruit trees. Riverside Drive shopping, dining, and entertainment are within a 15-minute walk, and the property is identified with a 5.8% cap rate.
Recent work includes new electrical panels throughout, new HVAC systems in five units, and exterior painting covering the walls, fences, windows, and handrails. Each unit has a detached one-car garage with alley access. Residents also share a rear entertainment courtyard, along with grassy areas and mature shade and fruit trees. Riverside Drive shopping, dining, and entertainment are within a 15-minute walk, and the property is identified with a 5.8% cap rate.
Key Highlights
- Six leased apartment units in a two‑story building
- Built in 1948 with mid‑century architectural details
- New electrical panels throughout; HVAC replaced in 5 of 6 units
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
$100,149
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
4.55%
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%
$2,002,980
$2.0M
Cap Rate 7%
$1,430,700
$1.4M
Cap Rate 9%
$1,112,767
$1.1M
Market Conditions
NOI Build-Up for 6,224 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
$197.9K $31.80/SF
− Vacancy
−$15.8K −$2.54/SF
EGI
$182.1K $29.26/SF
− OpEx
−$81.9K −$13.17/SF
NOI
$100.1K $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%
$2,002,980
Cap Rate 7%
$1,430,700
Cap Rate 9%
$1,112,767
Alternative Uses
Best Use
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,149 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.33M
$2.92M – $3.89M
NOI $233,261 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,165
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Leased units feature private laundry rooms, individual utility meters, and access to a shared rear courtyard.
Where is this apartment building located?
The property is located at 5005 Cahuenga North Hollywood, CA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Six leased apartment units in a two‑story building; Built in 1948 with mid‑century architectural details; New electrical panels throughout; HVAC replaced in 5 of 6 units
