36-Unit Apartment
For Sale
$7,650,000
7635 Lankershim Boulevard, North Hollywood, CA 91605
All units are one-bedroom, one-bathroom residences near North Hollywood transit and retail amenities.
Property Size23,236 SF
Price / SF$329.23
Days on Market199
Property Features for 7635 Lankershim Boulevard
General Information
Standard status
Active
Size
23,236 SF
Property subtype
Multi-family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
36 x 1BR/1BA
Multifamily Units
36
Building Details
Year Built
1986
Listing Agency:
Matthews Real Estate Investment Services
Listed By:
Daniel Withers
(714) 497-3550
Source:
Sevengables
Added: Feb 12
Changed: Aug 30
Last Checked: Aug 30 at 1:18AM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
Built in 1986, the property contains 36 apartment units, each configured with one bedroom and one bathroom. The 23,236-square-foot community also includes a former recreation room now used as a manager office and a ground-floor storage area identified as potential ADU conversion opportunities.
Located at 7635 Lankershim Boulevard in North Hollywood, the property is near the North Hollywood station, which connects the Metro B Line subway with the G Line busway. Nearby destinations include NoHo West and the NoHo Arts District, with shopping, dining, theaters, restaurants, and cultural venues in the surrounding area. The location also provides access to employment centers and everyday services throughout the San Fernando Valley.
Located at 7635 Lankershim Boulevard in North Hollywood, the property is near the North Hollywood station, which connects the Metro B Line subway with the G Line busway. Nearby destinations include NoHo West and the NoHo Arts District, with shopping, dining, theaters, restaurants, and cultural venues in the surrounding area. The location also provides access to employment centers and everyday services throughout the San Fernando Valley.
Key Highlights
- 36 apartment units with a one‑bedroom, one‑bathroom layout
- 23,236‑square‑foot apartment community built in 1986
- Former recreation room currently used as a manager office
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
$373,886
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
4.89%
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%
$7,477,720
$7.5M
Cap Rate 7%
$5,341,229
$5.3M
Cap Rate 9%
$4,154,289
$4.2M
Market Conditions
NOI Build-Up for 23,236 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
$738.9K $31.80/SF
− Vacancy
−$59.1K −$2.54/SF
EGI
$679.8K $29.26/SF
− OpEx
−$305.9K −$13.17/SF
NOI
$373.9K $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%
$7,477,720
Cap Rate 7%
$5,341,229
Cap Rate 9%
$4,154,289
Alternative Uses
Best Use
Apartment 5plus
$5.34M
$4.67M – $6.23M
NOI $373,886 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.44M
$10.89M – $14.51M
NOI $870,832 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,143
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?
Apartment building - All units are one-bedroom, one-bathroom residences near North Hollywood transit and retail amenities.
Where is this apartment building located?
The property is located at 7635 Lankershim Boulevard North Hollywood, CA.
What is the asking price?
The asking price for this property is $7,650,000.
What are key features of this property?
This property features: 36 apartment units with a one‑bedroom, one‑bathroom layout; 23,236‑square‑foot apartment community built in 1986; Former recreation room currently used as a manager office
