Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11023 Mccormick St North Hollywood, CA 91601-3278

    • High-rise multifamily apartments
    • 102,683 SF
    • 0.76 lot acres
    OFF-MARKET
    Value Estimations
    $17,270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6400842
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Empty Street Productions / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Loc'd & Lovin' It / Hair Salon
    • ArchLenz Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • MK Lending Corporation / Loan Service / Bank
    • Venom CEO / Advertising Agency / Marketing & Advertising

    Property Details for 11023 Mccormick St

    Year built
    2004
    Construction
    WOOD
    Lot size
    0.76 lot acres
    Property size
    102,683 SF
    Zone code
    LAC4
    Property type
    High-rise multifamily apartments
    APN
    2350-014-033
    APU
    2350014033

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $27,170,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Hollywood
    County
    Los Angeles
    State
    California
    Longitude
    -118.371
    Latitude
    34.1663
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $347,798
    $4,509,731
    $22,961,079
    $27,470,810
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,335,000
      34,928 SF

      11111 Cumpston St

      HIGH-RISE APARTMENTS • 34,928 SF
      11111 Cumpston St, North Hollywood, CA 91601-2797
      View Details
    • Value Estimation
      $7,420,000
      40,858 SF

      5525 Klump Ave

      HIGH-RISE APARTMENTS • 40,858 SF
      5525 Klump Ave, North Hollywood, CA 91601-2491
      View Details
    • Value Estimation
      $31,690,000
      80,803 SF

      11405 Chandler Blvd

      HIGH-RISE APARTMENTS • 80,803 SF
      11405 Chandler Blvd, North Hollywood, CA 91601-2691
      View Details
    • Value Estimation
      $19,920,000
      54,271 SF

      5044 Bakman Ave

      HIGH-RISE APARTMENTS • 54,271 SF
      5044 Bakman Ave, North Hollywood, CA 91601-4248
      View Details
    • Value Estimation
      $21,350,000
      132,652 SF

      11327 Chandler Blvd

      HIGH-RISE APARTMENTS • 132,652 SF
      11327 Chandler Blvd, North Hollywood, CA 91601
      View Details
    • Value Estimation
      $13,775,000
      77,246 SF

      5500 Klump Ave

      HIGH-RISE APARTMENTS • 77,246 SF
      5500 Klump Ave, North Hollywood, CA 91601-2533
      View Details

    Similar Nearby for Sale

    • $835,000

      Spacious Condo Near NoHo Border

      Multi-level condo with 4 bedrooms, modern amenities, and convenient location.
      11253 Peach Grove St, North Hollywood, CA 91601
      View Details
    • $1,800,000
      4,422 SF

      North Hollywood Multifamily Investment Opportunity

      Eight-unit apartment building in a desirable North Hollywood location.
      5326 Cahuenga Blvd, North Hollywood, CA 91601
      View Details
    • $1,345,000
      2,297 SF

      North Hollywood Multifamily Investment Opportunity

      Eight-unit apartment building in a thriving North Hollywood neighborhood.
      5335 Harmony Ave, North Hollywood, CA 91601
      View Details
    • $1,600,000
      19,925 SF

      North Hollywood Affordable Housing Development

      Ready-to-issue 46-unit affordable housing development opportunity in North Hollywood.
      5444 Camellia Ave, North Hollywood, CA 91601
      View Details
    • $8,500,000
      18,432 SF

      New Multifamily Investment in NoHo

      New construction multifamily property with 12 units in North Hollywood.
      10821 Hartsook St, North Hollywood, CA 91601
      View Details

    Similar Nearby for Lease

    • $36 SF/Yr
      9,818 SF

      NOHO Retail Space Available

      Prime Lankershim Blvd location, modern shop space
      5011-5019 Lankershim Blvd, Los Angeles, CA 91601
      View Details
    • Contact for pricing

      Lankershim Plaza

      Discover many ways to work your way in Lankershim Plaza
      5250 Lankershim Blvd, Los Angeles, CA 91601
      View Details
    • $105 SF/Yr
      400 SF

      Los Angeles Commercial Kitchen Space

      400 sq ft, Multi-Tenant Kitchen
      5536 Satsuma Ave, Los Angeles, CA 91601
      View Details
    • $30 SF/Yr
      18,086 SF

      North Hollywood Creative Office Space

      1,605 SF Available, 3 Parking Spaces
      10800 Riverton Ave, Los Angeles, CA 91601
      View Details
    • $36 SF/Yr
      2,000 SF

      Prime LA Flex Space, Satsuma Ave

      2,000 sq ft Retail/Industrial Space
      5536 Satsuma Ave, Los Angeles, CA 91601
      View Details
    • Contact for pricing
      6,300 SF

      Free Standing NoHo District Building

      Free standing building in NoHo District with parking and offices.
      10605 Chandler Blvd, North Hollywood, CA 91601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11023 Mccormick St
    North Hollywood, CA 91601-3278
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!