8 Units in NoHo with ADU Potential 13226 Vanowen St 8 Unit Apartment Building $3,458,475 CAD ($432,309 CAD/Unit) 5.06% Cap Rate North Hollywood, CA 91605

Located at 13226 Vanowen St, North Hollywood, CA 91605, this 8-unit multifamily investment presents an exceptional value-add opportunity in one of Los Angeles’ most dynamic and transit-connected neighborhoods. The property is listed at a 5.06% Cap Rate (pro-forma 3 vacancies), with immediate upside through the conversion of four existing garages into three ADUs, projecting a 6.63% Cap Rate post-construction with a 7.58% pre-tax cash flow. The 3 vacancies are ready for lease-up.
Recent capital improvements further enhance the property’s appeal and operational stability. Upgrades include new electrical panels and breakers, fresh landscaping, iron fencing and gates, exterior paint, modern lighting, and a security camera system. Additionally, the property has completed its seismic retrofit. The layout allows for the retention of 10 parking spaces even after the addition of ADUs, and there may be space to add 8 more parking spots along the side of the property, further increasing convenience for tenants.
Strategically located in North Hollywood, the property benefits from proximity to the NoHo Arts District—a thriving cultural hub home to over 20 theaters, art galleries, and dance studios—and is less than a mile from the North Hollywood Metro Station, which is undergoing a $1 billion transformation through the District NoHo development. This 16-acre transit-oriented project will bring nearly 1,500 new housing units, 450,000 sq ft of office space, retail, and green public areas, injecting long-term growth into the submarket.
With a 71 Walk Score, tenants enjoy the ability to walk to nearby shops, restaurants, entertainment, and transit.
Contact us today to request the OM or schedule a private tour.
**Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or Kelly@KellyMorganCommercial.com**
*Disclaimer:
The attached information and figures are projections provided solely for conceptual marketing purposes and must be verified by the prospective purchasers. Neither the Seller, Alactic Systems, Kelly Morgan, their team, nor any related employees or independent contractors warrant their accuracy. Prospective purchasers should conduct their own due diligence and are advised to conduct a thorough investigation including consulting with the appropriate professionals regarding all relevant details, facts, and projections, including the ability to make any potential improvements or build an ADU on the property in question.