Corner-Lot Quadplex with ADU
For Sale
$1,299,999
6944 Radford, North Hollywood, CA 91605
Four one-bedroom units on a corner lot zoned LARD3-1, with ADU and higher-density development potential.
Property Size2,420 SF
Lot Size0.21 Acres
Days on Market46
Property Features for 6944 Radford
General Information
Standard status
Active
Size
2,420 SF
Lot size
0.21 Acres
Property subtype
Quadruplex
Zoning
LARD3-1
Building Details
Building Size
2,420 SF
Year Built
1949
Tenancy
Multi
Listing Agency:
Smart Equity Realty Inc
Listed By:
Tony Diaz · License #01742080
(747) 201-4242
Source:
Archetyperealty
Added: Jul 24
Changed: Aug 27
Last Checked: Sep 7 at 6:31AM
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 Smart Equity Realty Inc
Investment Insights
Based on property information with market context.
This corner-lot quadplex currently provides four residential units, each with one bedroom and one bathroom. Each unit has its own electrical and gas meter, and tenants are on month-to-month leases. The property also includes two two-car garages, with one garage currently rented; tenants are not entitled to parking.
Zoning is listed as LARD3-1, and the property is described as having the opportunity to build up to 18 units or to build four ADUs. Per Zimas.lacity.org, the site is an “Eligible Site ED 1,” which may be applied to a shelter or 100% Affordable Housing Project on the site (TOC), with ED 1 Ministerial Approval Process eligibility for expedited processing, clearances, and approvals. Please check with LADBS for the approved 2026 ADU California laws.
Located at 6944 Radford in North Hollywood, the property is described as minutes from Bob Burbank Airport, Hollywood, Universal Studios, and the newly built NOHO West Shopping Plaza, including the Regal movie theatre, Trader Joe’s, Starbucks, and surrounding retail and dining options.
Zoning is listed as LARD3-1, and the property is described as having the opportunity to build up to 18 units or to build four ADUs. Per Zimas.lacity.org, the site is an “Eligible Site ED 1,” which may be applied to a shelter or 100% Affordable Housing Project on the site (TOC), with ED 1 Ministerial Approval Process eligibility for expedited processing, clearances, and approvals. Please check with LADBS for the approved 2026 ADU California laws.
Located at 6944 Radford in North Hollywood, the property is described as minutes from Bob Burbank Airport, Hollywood, Universal Studios, and the newly built NOHO West Shopping Plaza, including the Regal movie theatre, Trader Joe’s, Starbucks, and surrounding retail and dining options.
Key Highlights
- Zoned LARD3‑1 with opportunity for up to 18 units or four ADUs
- Corner lot totaling 9,000 Sqft
- Four units with 1 bed and 1 bath each
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
$42,262
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
3.25%
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%
$845,240
$845.2K
Cap Rate 7%
$603,743
$603.7K
Cap Rate 9%
$469,578
$469.6K
Market Conditions
NOI Build-Up for 2,420 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
$65.3K $27.00/SF
− Vacancy
−$5.0K −$2.05/SF
EGI
$60.4K $24.95/SF
− OpEx
−$18.1K −$7.48/SF
NOI
$42.3K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$845,240
Cap Rate 7%
$603,743
Cap Rate 9%
$469,578
Alternative Uses
Best Use
Multifamily LT 5
$603.7K
$528.3K – $704.4K
NOI $42,262 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$556.3K
$486.8K – $649.0K
NOI $38,940 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,696 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,607
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom units on a corner lot zoned LARD3-1, with ADU and higher-density development potential.
Where is this quadplex located?
The property is located at 6944 Radford North Hollywood, CA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Zoned LARD3‑1 with opportunity for up to 18 units or four ADUs; Corner lot totaling 9,000 Sqft; Four units with 1 bed and 1 bath each
