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Houston Galleria Apartments 11175 Huston St 40 Unit Apartment Building $11,533,032 CAD ($288,326 CAD/Unit) 5.39% Cap Rate North Hollywood, CA 91601
Investment Highlights
- Intrinsic Value – Add 18 ADUs (10 attached, 8 detached) with no parking loss; expand to 58 units.
- ADU Upside – Projected 7.84% cap, 8.62 GRM, and 20.23% avg annual return post-construction.
- Recent Upgrades – Copper plumbing, new roof, new subpanels, upgraded water heaters.
- 9.24% Intrinsic Cap Rate – Full upside after ADU build-out and income optimization.
- Current Metrics – $210K/unit, 5.39% cap, 11.13 GRM, with 41% upside (excluding ADUs).
- Location – Prime NoHo Arts District; less than 1 mile to Metro; near Universal & Burbank Media District.
Executive Summary
Most investors underwrite what exists. The informed investor sees what’s possible.
At first glance, 11175 Huston St presents as a 40-unit asset priced at $210,000 per unit with a 5.39% cap rate in one of Los Angeles’ most active rental corridors. But the true opportunity lies not in current performance, it lies in a fully mapped path to value creation.
The property is positioned to accommodate up to 18 additional ADUs with no loss of existing parking. This would expand the total unit count to 58, unlocking significant scale and income potential. Even before executing the ADU plan, the asset offers 41% upside in rental income, providing a meaningful lever to increase cash flow when units turn.
Upon full execution of the ADU strategy, the deal projects to a 7.84% cap rate with a 20.23% average annual return over five years after construction costs. Transforming a stable core asset into a high-performing, value-add investment.
If the investor were to add the ADUs and reach maximum upside in rents, the Intrinsic Value Cap Rate is projected at 9.42%. This reflects the property’s full cash flow potential after optimizing all income streams, such as building the maximum allowed ADUs, reconfiguring floorplans, adding other income (storage/parking etc.) and all are rents at market. Warren Buffet uses the Intrinsic Value when valuing investments.
If you would like to learn more about the Intrinsic Value of the property, contact us at (310) 836-3638 or Kelly@KellyMorganCommercial.com
*Disclaimer: The attached information and projections are provided for conceptual marketing purposes only and must be independently verified by prospective purchasers. Neither the Seller, Alactic Systems, Kelly Morgan, their team, nor any related employees or independent contractors guarantee the accuracy of this information. Buyers are responsible for conducting their own due diligence, including evaluating the feasibility of ADU development and consulting with appropriate licensed professionals regarding all relevant details, assumptions, and projections.
At first glance, 11175 Huston St presents as a 40-unit asset priced at $210,000 per unit with a 5.39% cap rate in one of Los Angeles’ most active rental corridors. But the true opportunity lies not in current performance, it lies in a fully mapped path to value creation.
The property is positioned to accommodate up to 18 additional ADUs with no loss of existing parking. This would expand the total unit count to 58, unlocking significant scale and income potential. Even before executing the ADU plan, the asset offers 41% upside in rental income, providing a meaningful lever to increase cash flow when units turn.
Upon full execution of the ADU strategy, the deal projects to a 7.84% cap rate with a 20.23% average annual return over five years after construction costs. Transforming a stable core asset into a high-performing, value-add investment.
If the investor were to add the ADUs and reach maximum upside in rents, the Intrinsic Value Cap Rate is projected at 9.42%. This reflects the property’s full cash flow potential after optimizing all income streams, such as building the maximum allowed ADUs, reconfiguring floorplans, adding other income (storage/parking etc.) and all are rents at market. Warren Buffet uses the Intrinsic Value when valuing investments.
If you would like to learn more about the Intrinsic Value of the property, contact us at (310) 836-3638 or Kelly@KellyMorganCommercial.com
*Disclaimer: The attached information and projections are provided for conceptual marketing purposes only and must be independently verified by prospective purchasers. Neither the Seller, Alactic Systems, Kelly Morgan, their team, nor any related employees or independent contractors guarantee the accuracy of this information. Buyers are responsible for conducting their own due diligence, including evaluating the feasibility of ADU development and consulting with appropriate licensed professionals regarding all relevant details, assumptions, and projections.
Property Facts
| Price | $11,533,032 CAD | Property Subtype | Apartment |
| Price Per Unit | $288,326 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.39% | Building Size | 24,098 SF |
| Gross Rent Multiplier | 11.13 | No. Stories | 2 |
| No. Units | 40 | Year Built | 1965 |
| Property Type | Multifamily | Parking Ratio | 1.66/1,000 SF |
| Zoning | LAR3 | ||
| Price | $11,533,032 CAD |
| Price Per Unit | $288,326 CAD |
| Sale Type | Investment |
| Cap Rate | 5.39% |
| Gross Rent Multiplier | 11.13 |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 24,098 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.66/1,000 SF |
| Zoning | LAR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | $2,098 CAD | - |
| 1+1 | 32 | $2,142 CAD | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2353-017-011 | Improvements Assessment | $3,091,862 CAD |
| Land Assessment | $2,061,229 CAD | Total Assessment | $5,153,090 CAD |
Property Taxes
Parcel Number
2353-017-011
Land Assessment
$2,061,229 CAD
Improvements Assessment
$3,091,862 CAD
Total Assessment
$5,153,090 CAD
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Houston Galleria Apartments | 11175 Huston St
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