Modern 5-Unit Apartment
New
For Sale
$3,195,000
6926 Morella Ave, North Hollywood, CA 91605
Residential Income, Modern, North Hollywood, CA
Property Size7,932 SF
Lot Size0.18 Acres
Price / SF$402.80
Days on Market2
Property Features for 6926 Morella Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LARD1.5
Bedrooms
17
Bathrooms
21
Full bathrooms
21
Rooms
Bedroom 17, Bedroom 10, Bathroom 11, Bathroom 13, Bedroom 5, Bathroom 18, Bathroom 10, Bathroom 15, Bathroom 20, Bedroom 2, Bedroom 3, Bedroom 16, Bathroom 2, Bathroom 21, Bathroom 4, Bathroom 9, Bedroom 9, Bathroom 17, Bedroom 7, Bathroom 1, Bathroom 16, Bathroom 19, Bedroom 4, Bathroom 7, Bathroom 6, Bathroom 14, Bedroom 8, Bedroom 14, Bedroom 12, Bathroom 8, Bathroom 3, Bedroom 1, Bathroom 12, Bathroom 5, Bedroom 11, Bedroom 13, Bedroom 15, Bedroom 6
Parking
12
Parking features
Assigned, Garage - Attached, Driveway, Covered, Garage
Security features
Security Lighting
Window features
Double Pane Windows, Blinds
Interior features
Turnkey, Recessed Lighting, Laundry - Closet Stacked, Open Floor Plan
Appliances
Microwave, Free Standing Gas
Lot features
Automatic Gate, Exterior Security Lights, Fenced, Gutters
Directions
Vanowen to Morella Ave, (West of Lankershim Blvd)
Subdivision
North Hollywood
Standard status
Active
APN
2321-016-017
Size
7,932 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
private balconies and patios
drought-tolerant landscaping
Building Details
Year built
2021
Floors in Building
3
Number of units
5
Flooring type
Linoleum, Laminate
Roof type
Flat
Architectural style
Modern
Listing Agency:
Beverly & Company Luxury Properties
(323) 410-0848
Listed By:
Cesar Leyva · License #01490664
(424) 202-4243
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 10 at 8:06PM
MLS# 26986171
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2021, this modern apartment property contains 5 units across three detached buildings, including one fully standalone residence. The improvements total 7,932 square feet on a 0.1815-acre lot and feature townhouse-style layouts, private balconies and patios, central heating and cooling, stacked laundry closets, open floor plans, and attached garage or driveway parking. Hardscape and drought-tolerant landscaping are incorporated across the site, while each residence has separate utility metering.
Located at 6926 Morella Ave in North Hollywood, the property is zoned LARD1.5 and is identified as non-RSO, with no rent control or affordable-housing covenant restrictions stated. The property is 100%-leased and includes assigned, covered, driveway, and garage parking options. Nearby destinations identified in the property information include Universal Studios, Warner Bros., and the NoHo Arts District.
Located at 6926 Morella Ave in North Hollywood, the property is zoned LARD1.5 and is identified as non-RSO, with no rent control or affordable-housing covenant restrictions stated. The property is 100%-leased and includes assigned, covered, driveway, and garage parking options. Nearby destinations identified in the property information include Universal Studios, Warner Bros., and the NoHo Arts District.
Key Highlights
- 5‑unit apartment property completed in 2021
- 7,932 square feet on a 0.1815‑acre lot
- Three detached buildings, including one fully standalone 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
$127,632
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
3.99%
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%
$2,552,640
$2.6M
Cap Rate 7%
$1,823,314
$1.8M
Cap Rate 9%
$1,418,133
$1.4M
Market Conditions
NOI Build-Up for 7,932 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
$252.2K $31.80/SF
− Vacancy
−$20.2K −$2.54/SF
EGI
$232.1K $29.26/SF
− OpEx
−$104.4K −$13.17/SF
NOI
$127.6K $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%
$2,552,640
Cap Rate 7%
$1,823,314
Cap Rate 9%
$1,418,133
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.60M – $2.13M
NOI $127,632 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.25M
$3.72M – $4.95M
NOI $297,273 @ 7.0% cap · market cap 9.30%
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
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,703
Businesses Nearby
Explore this area
Business Placement
Demographics for 91605, CA
54,341
Population
17,206
Households
3.2
Avg Household Size
36
Median Age
22%
College-Educated
71%
High-School Grad
5.4 sq mi
ZIP Area
10,063
Density / Sq Mi
$64,539
Median Household Income
$32,751
Median Earnings
$1,736
Median Rent
$729,900
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 - Recently built, fully leased property with separately metered utilities, private outdoor spaces, and on-site parking.
Where is this apartment building located?
The property is located at 6926 Morella Ave North Hollywood, CA.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: 5‑unit apartment property completed in 2021; 7,932 square feet on a 0.1815‑acre lot; Three detached buildings, including one fully standalone unit
