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Listed by Cameron Samimi, DRE #02035763 • Lyon Stahl Investment Real Estate, Inc.
$ 1,250,000
Est. payment | /mo
0.3 Acres Lot
$ 1,250,000
Est. payment | /mo
0.3 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26124609
Year Built 1924
Lot Size 0.300 Acres
Source California Regional MLS
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 t
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Interior
Laundry None
Exterior
Parking Features Assigned Spaces, Private / Exclusive, Garage, Other
Garage Spaces 4.0
Pool None
Building
Lot Description Paved
Water District - Public
Others
Tax ID 2337033001
Special Listing Condition Not Applicable
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