11315 Tiara Street — Sale in North Hollywood, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: North Hollywood, CA 91601

Investment Figures

Cap rate
5.47%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively offer 11315 Tiara Street, a fully renovated and furnished triplex with a junior accessory dwelling unit in the heart of Mid-Town North Hollywood. Although recently appraised higher, the property is offered for sale at $2,275,000. The property consists of three (3) three-bedroom/two-bathroom units and one (1) one-bedroom/one-bathroom JADU, totaling approximately 4,350 square feet of living space on a 7,000-square-foot lot. All four units are fully furnished with approximately $50,000 in quality furnishings including beds, sofas, dining sets, smart TVs, and full kitchen appliances. Originally constructed in 1926 with additions in 2005, the property underwent a comprehensive renovation starting in 2024 that included a new 400-amp electrical panel with three meters, 13 ductless mini-split HVAC units, full plumbing replacement, and complete interior remodeling. Six building permits have been filed and finalized, effectively delivering brand new systems within an established residential setting. At stabilized full occupancy, the property generates $184,800 in annual gross scheduled rent, with the three-bedroom units commanding $4,200 to $4,350 per month and the JADU at $2,500 per month. All utilities—water, gas, electric, trash and Internet—are included in rent, a strategy that supports premium rents and appeals to the mid-term rental demographic of young professionals, traveling nurses, and entertainment industry workers who increasingly populate this sub-market. At the offering price of $2,275,000, the property delivers a GRM of 12.3 against a comparable sales average of 15.0, meaning a buyer acquires 18 percent more income per dollar invested compared to recent comparable transactions. All occupied units are on short-term leases expiring by June 2026, giving a buyer complete flexibility to reposition the property at each turnover. A new investor has the option to continue the furnished mid-term model, convert to traditional

Market Context

This multifamily in North Hollywood, CA is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 99 days. Compare it against other multifamily listings for sale in North Hollywood, CA — view the full market.

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