Description

We are pleased to present an eight (8) unit apartment building located at 11275 Huston Street in North Hollywood, California. The subject property is located in a great North Hollywood location, west of Lankershim Boulevard and south of Magnolia Boulevard. Situated in a great North Hollywood location, the property features a desirable unit mix of five one-bedroom and three two-bedroom units and will be delivered 50% vacant, allowing market rents from day one. The offering provides a strong initial return at a 7.49% cap rate, complemented by great curb appeal, soft-story retrofit completion, and on-site tuck-under parking with an excellent opportunity for ADU conversion. The asset benefits from dominant access to major commercial corridors including Burbank, Lankershim, Vineland, and Tujunga Boulevards, as well as immediate connectivity to the 170 and 101 freeways. Tenants and visitors enjoy proximity to the North Hollywood Recreation Center, the North Hollywood Metro station, and the vibrant NoHo Arts District with theaters, cafes, restaurants, and nightlife. Overall, the property presents a compelling value-add opportunity through the ability to lease or renovate the vacant units and potentially convert the existing tuck-under parking into ADUs, all while benefiting from a strong in-place 7.49% cap rate that provides attractive initial cash flow.