91601 Homes with Apartment Subtype

91601 Homes with Apartment Subtype

Welcome to the vibrant zip code of 91601, nestled in the heart of North Hollywood, Los Angeles, California. This bustling area offers a variety of amenities and attractions, making it an ideal place to call home.

With its prime location, 91601 provides easy access to the thriving entertainment industry, as it is just a stone's throw away from major studios and production companies. The neighborhood is also known for its diverse culinary scene, trendy boutiques, and vibrant nightlife, ensuring there is always something exciting happening.

If you're looking for a home with an apartment subtype, you're in luck. 91601 offers a range of housing options, including apartment complexes and multi-unit properties. These homes provide the perfect opportunity for investors or those looking for additional rental income. With the demand for rental properties continuously growing, owning a home with an apartment subtype can be a smart investment decision.

In addition to the apartment options, 91601 boasts a variety of architectural styles, from charming bungalows to modern condominiums. The real estate market in this area is dynamic, with properties available to suit a range of budgets and preferences.

Whether you're a young professional, a growing family, or an investor, 91601 has something to offer everyone. So, if you're seeking a vibrant and diverse community in the heart of North Hollywood, consider exploring the homes with an apartment subtype in this exciting zip code.

Newest 91601 Homes with Apartment Subtype

$1,250,000
SB26124609 MLS Active Status
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.

11234 Hatteras, North Hollywood

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.