Sign Up Successful!
You now have access to more from Realmo!
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

    7045 Whitsett Ave North Hollywood, CA 91605-5431

    • Apartment buildings
    • 4,958 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Sep 18, 2020
    $1,425,000
    Value Estimations
    $1,380,000
    Show details
    Cap Rate Potential
    5.8%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-8435577
    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

    • Apartment buildings

    Property Details for 7045 Whitsett Ave

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.18 lot acres
    Property size
    4,958 SF
    Zone code
    LAR3
    Property type
    Apartment buildings
    APN
    2324-032-009
    APU
    2324032009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,365,000
      ML approach
      $1,315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,330,000
      6.5%
      $1,225,000
      7%
      $1,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,368,000
      Market price range: $611k - $1.37M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,020,000
      Current use
      AUTO REPAIR, GARAGE
      $2,270,000
      Change: +123% Conversion: Difficult
      MEDICAL BUILDING
      $2,255,000
      Change: +121% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,455,000
      Change: +43% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Hollywood
    County
    Los Angeles
    State
    California
    Longitude
    -118.406
    Latitude
    34.1988
    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
    $19,326
    $604,888
    $907,332
    $1,512,220
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $930,000
      5,665 SF

      7110 Bellaire Ave

      APARTMENT HOUSE (5+ UNITS) • 5,665 SF
      7110 Bellaire Ave, North Hollywood, CA 91605-5228
      View Details
    • Value Estimation
      $1,800,000
      11,316 SF

      11901 Valerio St

      APARTMENT HOUSE (5+ UNITS) • 11,316 SF
      11901 Valerio St, North Hollywood, CA 91605-3740
      View Details
    • Value Estimation
      $1,820,000
      14,447 SF

      12611 Vanowen St

      APARTMENT HOUSE (5+ UNITS) • 14,447 SF
      12611 Vanowen St, North Hollywood, CA 91605-5376
      View Details
    • Value Estimation
      $800,000
      4,811 SF

      13015 Vanowen St

      APARTMENT HOUSE (5+ UNITS) • 4,811 SF
      13015 Vanowen St, North Hollywood, CA 91605-4835
      View Details
    • Value Estimation
      $1,425,000
      12,864 SF

      13130 Vanowen St

      APARTMENT HOUSE (5+ UNITS) • 12,864 SF
      13130 Vanowen St, North Hollywood, CA 91605-4775
      View Details
    • Value Estimation
      $1,840,000
      16,128 SF

      13200 Vanowen St

      APARTMENT HOUSE (5+ UNITS) • 16,128 SF
      13200 Vanowen St, North Hollywood, CA 91605-4777
      View Details

    Similar Nearby for Sale

    • $1,650,000

      North Hollywood Multifamily Investment Opportunity

      Seven-unit multifamily property in North Hollywood with upgrade potential.
      6923 Ben Ave, North Hollywood, CA 91605
      View Details
    • $5,700,000
      24,614 SF

      27-Unit Multifamily Property in North Hollywood

      27 units in North Hollywood with significant development potential.
      13061 Vanowen St, North Hollywood, CA 91605
      View Details
    • $2,500,000

      Multifamily Property Near NoHo Arts

      8-unit multifamily property with ADU potential near NoHo Arts.
      13226 Vanowen St, Los Angeles, CA 91605
      View Details
    • $998,000

      North Hollywood Multifamily Investment Opportunity

      Five-unit apartment building in North Hollywood with upside potential.
      12001 Valerio St, Los Angeles, CA 91605
      View Details
    • $2,500,000
      7,826 SF

      North Hollywood Multifamily Investment Opportunity

      Well-maintained 12-unit apartment community in a high-demand rental market.
      11936 Hart St, North Hollywood, CA 91605
      View Details
    • $6,950,000

      North Hollywood Multifamily Investment Opportunity

      Well-maintained 24-unit multifamily property in North Hollywood.
      12717 Barbara Ann St, North Hollywood, CA 91605
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo
      1,347 SF

      North Hollywood Home For Rent

      Charming 3-bedroom home with updated features and private outdoor space.
      8026 Hinds Ave, North Hollywood, CA 91605
      View Details
    • $1.87 SF/Yr
      20,609 SF

      Secured Industrial Space Near Studios

      Professionally managed industrial space with easy freeway and studio access.
      11166 Gault St, North Hollywood, CA 91605
      View Details
    • $1.49 SF/Yr
      5,170 SF

      Warehouse Unit Ready For Occupancy

      Clean corner warehouse unit available for immediate occupancy.
      13150-13164 Leadwell St, North Hollywood, CA 91605
      View Details
    • $1.70 SF/Yr
      3,920 SF

      North Hollywood Industrial Units Available

      Industrial units for lease in North Hollywood, near freeways.
      12937-12943 Sherman Way, North Hollywood, CA 91605
      View Details
    • Contact for pricing

      Office Space with Reception Area

      Vacant office space featuring a reception and private office.
      7830 Lankershim Blvd, Los Angeles, CA 91605
      View Details
    • $1.50 SF/Yr
      21,844 SF

      North Hollywood Industrial Space Available

      Industrial property in prime North Hollywood location, proximate to freeways.
      13222 Saticoy St, North Hollywood, CA 91605
      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.
    7045 Whitsett Ave
    North Hollywood, CA 91605-5431
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.