16-Unit Garden-Style
5451-5457 Whitsett Ave. / 12504-12522 Albers St. North Hollywood, CA 91607
For Sale
Contact for pricing
Two-story garden-style multifamily with interior courtyards, detached garage parking, and a 1- and 2-bedroom unit mix.
Property Size13,560 SF
Lot Size0.48 Acres
Price / SF$217.55
Days on Market316
Property Features for 5451-5457 Whitsett Ave. / 12504-12522 Albers St.
General Information
- Standard status
- Active
- Size
- 13,560 SF
- Lot size
- 0.48 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1952
Listing Agency:
Re/max One Commercial
Listed By:
Brian Hennessey · License #CA 00481388
Source:
Crexi
Added: Sep 12, 2025
Changed: Jul 23
Last Checked: Jul 23 at 9:07AM
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 Re/max One Commercial
Investment Insights
Based on property information with market context.
5451–5457 Whitsett Ave. and 12504–12522 Albers St. present a 16-unit, two-story garden-style multifamily property in Valley Village. The building configuration includes interior courtyards and mature landscaping, with unit mix comprised of twelve (12) 1-bedroom, 1-bath homes and four (4) 2-bedroom, 2-bath homes.
The property spans two addresses across Whitsett Avenue and Albers Street and is described as being positioned on a prime corner lot. The offering notes that at least two units have undergone renovations within the past 10 years.
Detached garage parking is included, and the presentation highlights the potential to pursue additional dwelling units (ADUs), supported by recent pro-housing legislation such as California AB 1211 (buyer to verify). The remarks also reference an estimated rental upside of approximately 75% and a sub-3.5% vacancy rate (estimates as stated in the provided information).
The property spans two addresses across Whitsett Avenue and Albers Street and is described as being positioned on a prime corner lot. The offering notes that at least two units have undergone renovations within the past 10 years.
Detached garage parking is included, and the presentation highlights the potential to pursue additional dwelling units (ADUs), supported by recent pro-housing legislation such as California AB 1211 (buyer to verify). The remarks also reference an estimated rental upside of approximately 75% and a sub-3.5% vacancy rate (estimates as stated in the provided information).
Key Highlights
- 16‑unit multifamily property built in 1952, offering a 1- and 2‑bedroom unit mix
- Corner lot totaling 120,909 SF across 5451–5457 Whitsett Ave and 12504–12522 Albers St
- Unit mix includes 12 one‑bedroom, one‑bath units and 4 two‑bedroom, two‑bath units
Financial Insights For Apartment 5plus
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 | $431.2k | $31.80 |
| − Vacancy | −$34.5k | −$2.54 |
| EGI | $396.7k | $29.26 |
| − OpEx | −$178.5k | −$13.17 |
| NOI | $218.2k | $16.09 |
13,560 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.12M
$2.73M – $3.64M
NOI $218,191 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.26M
$6.35M – $8.47M
NOI $508,198 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Two-story garden-style multifamily with interior courtyards, detached garage parking, and a 1- and 2-bedroom unit mix.
Where is this apartment building located?
The property is located at 5451-5457 Whitsett Ave. / 12504-12522 Albers St. North Hollywood, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 16‑unit multifamily property built in 1952, offering a 1- and 2‑bedroom unit mix; Corner lot totaling 120,909 SF across 5451–5457 Whitsett Ave and 12504–12522 Albers St; Unit mix includes 12 one‑bedroom, one‑bath units and 4 two‑bedroom, two‑bath units
