11741 Saticoy St, North Hollywood, CA 91605

Marcus & Millichap is pleased to announce the opportunity to purchase 11741 Saticoy Street, an 85-unit multifamily property situated in North Hollywood, CA. Available for the first time in 35 years, this property presents an opportunity to gain a substantial footprint in the thriving San Fernando Valley apartment market for the low cost of only $151,647 per unit. A new investor may also be able to more rapidly reposition the property, as approximately 36 of the units could be delivered vacant. In addition, future cash flows can be increased dramatically, as the currently occupied units offer approximately 92% in rent upside alone, while a new investor can potentially create additional revenue streams through the implementation of a RUBS program.
In addition to its attractive pricing, this listing also presents a rare opportunity to capitalize on economies of scale, as only two other apartment communities of this size have sold in the entire San Fernando Valley in the past 12 months (Source: CoStar COMPS). Moreover, 11741 Saticoy Street is a far more accessible investment than the previous two sales, which transacted at $307,203 and $380,892 per unit, with both sales prices exceeding $70 million.
Its location offers tenants convenient access to both the 5 and 170 Freeways, while several new and upcoming retail destinations are coming online to appeal to tenants in the immediate area. District NoHo, a16-acre mixed-use campus featuring 510,000 square feet of restaurant, retail, and office space in addition to1,481 residential units, recently received city council approval for the area surrounding the North Hollywood Metro Station. Another site offering several amenities for local residents is the new NoHo West shopping center, located just two miles from the property and featuring major tenants such as Trader Joe’s, Regal Cinema, Nordstrom Rack, and Starbucks.