Ready-to-Issue Affordable Housing
5444 Camellia Avenue North Hollywood, CA 91601
For Sale
$1,600,000
46-unit, 100% affordable ED 1 apartment development proposed on a corner lot near the NOHO Metro Red Line.
Property Size6,587 SF
Lot Size0.15 Acres
Price / SF$242.90
Days on Market281
Property Features for 5444 Camellia Avenue
General Information
- Standard status
- Active
- Size
- 6,587 SF
- Lot size
- 0.15 Acres
- Property subtype
- Land Lot
Listing Agency:
Keller Williams Beverly Hills
(310) 651-1800
Listed By:
Daniel Shamooelian · License #01984269
(310) 651-1800
Source:
Compass
Added: Oct 19, 2025
Changed: Jul 21
Last Checked: Jul 26 at 11:27AM
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 Keller Williams Beverly Hills
Investment Insights
Based on property information with market context.
KW Commercial presents a ready-to-issue (RTI) ED 1 affordable housing development opportunity consisting of a proposed 46-unit, 100% affordable apartment project. The plan includes a 5-story configuration on a 6,591 sq. ft. corner lot with unit types comprising 2 two-bedroom units, 27 one-bedroom units, and 16 studios, for approximately 19,925 sq. ft. of rentable space. The affordability mix includes 2 very low-income units (50% AMI), 34 low-income units (80% AMI), 8 moderate-income units (110% AMI), plus 1 market-rate manager’s unit. HCD Schedule VI and TCAC Schedule IX are referenced for rent compliance for the respective income categories.
The site is located less than half a mile from the NOHO Metro Red Line Station, with the provided Walk Score of 87 and Bike Score of 74. The proposed design includes zero parking spaces. The current site condition is improved with a vacant duplex, which the remarks indicate may reduce or avoid tenant relocation during construction.
Plans are described as available, and the remarks note the project may be delivered as a vacant lot if desired. Contact the listing agent for additional information or to request a full set of approved plans.
The site is located less than half a mile from the NOHO Metro Red Line Station, with the provided Walk Score of 87 and Bike Score of 74. The proposed design includes zero parking spaces. The current site condition is improved with a vacant duplex, which the remarks indicate may reduce or avoid tenant relocation during construction.
Plans are described as available, and the remarks note the project may be delivered as a vacant lot if desired. Contact the listing agent for additional information or to request a full set of approved plans.
Key Highlights
- 46‑unit, 100% affordable housing ED 1 development opportunity proposed on a 6,591 sq. ft. corner lot
- Unit mix: 2 two‑bedroom units, 27 one‑bedroom units, and 16 studios, with approximately 19,925 sq. ft. of rentable space
- Affordability breakdown: 2 very low‑income units (50% AMI), 34 low‑income units (80% AMI), 8 moderate‑income units (110% AMI), plus 1 market‑rate manager’s unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $177.8k | $27.00 |
| − Vacancy | −$13.5k | −$2.05 |
| EGI | $164.3k | $24.95 |
| − OpEx | −$49.3k | −$7.48 |
| NOI | $115.0k | $17.46 |
6,587 SF · lease $27.00/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.44M – $1.92M
NOI $115,033 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$1.51M
$1.32M – $1.77M
NOI $105,990 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$3.53M
$3.09M – $4.11M
NOI $246,866 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Apartment building - 46-unit, 100% affordable ED 1 apartment development proposed on a corner lot near the NOHO Metro Red Line.
Where is this apartment building located?
The property is located at 5444 Camellia Avenue North Hollywood, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 46‑unit, 100% affordable housing ED 1 development opportunity proposed on a 6,591 sq. ft. corner lot; Unit mix: 2 two‑bedroom units, 27 one‑bedroom units, and 16 studios, with approximately 19,925 sq. ft. of rentable space; Affordability breakdown: 2 very low‑income units (50% AMI), 34 low‑income units (80% AMI), 8 moderate‑income units (110% AMI), plus 1 market‑rate manager’s unit
