Samimi CRE Advisors
    Listings/11234 Hatteras St
    11234 Hatteras St - Photo 1
    multifamilyActive Listing

    11234 Hatteras St

    North Hollywood, CA 91601

    Valuation

    $1,250,000

    Key Specifications

    Total Units

    5

    multifamily

    Year Built

    1924

    Heritage Asset

    Interior

    3,893 SF

    $321 / SF

    Lot Area

    13,077 SF

    Unit Mix

    multifamily

    2x 2-Bed/1-Bath, 2x 3-Bed/2-Bath, 1x 1-Bed/1-Bath

    Investment Highlights

    Potential to Add Up to 5 ADUs - Large excess land area may accommodate up to five new ADUs, creating substantial rental and value upside. Buyer to verify.
    Estimated $400,000 Value Creation - Preliminary projections indicate significant upside through the addition and stabilization of new ADUs.
    Projected $2.65M Exit Value - Illustrative development scenario suggests a stabilized value of approximately $2,650,000.
    156% Projected ROI in 18 Months – Based on preliminary assumptions utilizing 90% LTV financing. Buyer to verify all projections.
    Additional Garage Conversion Potential – Four existing garages may offer future ADU conversion or additional income opportunities.
    Below-Market Rents - Existing rents provide immediate upside through

    Property Overview

    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. The location further strengthens the investment story, positioned near the NoHo Arts District, North Hollywood Metro Station, NOHO West, and the planned District NoHo development. As North Hollywood continues to attract new investment, 11234 Hatteras Street offers investors a unique combination of stable in-place income, rental upside, and exceptional ADU-driven development potential.