50
See all 50 photos
$1,250,000
Est. payment /mo
9 Beds
6 Baths
0.3 Acres Lot
New
11234 Hatteras North Hollywood, CA 91601
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26124609
Bedrooms 9
Lot Size 0.300 Acres
Property Sub-Type Res Income 2-4 Units
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 Valleys 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 propertys 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 sellers 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 Distri
Location
State CA
County Los Angeles
Zoning Assessor
Direction From the 101 Freeway, exit Tujunga Ave. Head north on Tujunga Ave, then turn right on Hatteras St. Property is located on Hatter
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 2337033001
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Cameron Samimi, DRE#02035763 Lyon Stahl Investment Real Estate, Inc.
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