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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$1,250,000

Est. payment - /mo

0.3 Acres Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26124609

HOA Y/N No

Year Built 1924

Lot Size 0.300 Acres

Property Sub-Type Apartment

Property Description

11234 Hatteras Street presents a rare opportunity to acquire a 5-unit multifamily asset on an expansive 13,077 SF lot in the heart of North Hollywood, one of the San Fernando Valley's most active and evolving rental submarkets. The property consists of 3,893 SF of existing improvements and features a desirable mix of 1, 2, and 3-bedroom units. With in-place rents below projected market levels, the asset offers immediate and long-term upside through rent growth, improved operations, and strategic repositioning.

The property's most compelling value-add opportunity is its significant ADU development potential. The large vacant side yard may provide the opportunity to construct up to five new ADUs, creating substantial additional rental income and long-term value.

Illustrative development projections indicate the potential construction of five new 850 SF ADUs, resulting in a projected stabilized 7.0% cap rate and an estimated exit value of approximately $2,650,000, representing roughly $400,000 in potential value creation before any additional upside achieved through repositioning the existing units. Based on the seller's preliminary assumptions, the project could potentially generate a 156% return on equity over an estimated 18-month period utilizing 90% LTV financing. Buyer to independently verify all development costs, financing assumptions, rental projections, cap rates, timelines, and projected returns.

The location further strengthens the investment story. The property is positioned near the NoHo Arts District, North Hollywood Metro Station, NOHO West, and the planned District NoHo development, a transformative transit-oriented mixed-use project expected to bring new housing, retail, office space, public open areas, and enhanced transit infrastructure to the neighborhood. As North Hollywood continues to attract new investment, residents, employers, and entertainment venues, 11234 Hatteras Street offers investors a unique combination of stable in-place income, rental upside, and exceptional ADU-driven development potential.

Location

State CA

County Los Angeles

Area Nho - North Hollywood

Interior

Fireplace No

Laundry None

Exterior

Parking Features Assigned, Driveway, Garage Faces Front, Garage, Paved, Private

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Street Lights, Sidewalks, Urban

Total Parking Spaces 4

Private Pool No

Building

Lot Description 0-1 Unit/Acre, Corner Lot, Front Yard, Near Public Transit, Paved, Value In Land, Yard

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 2337033001

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

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Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc. #02035763

NEARBY SCHOOL & BUSINESS

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11234 Hatteras North Hollywood, CA 91601