Back to Search
11231 Otsego St
For Sale $9,995,000 ($310.89 per Sq Ft)
$9,995,000 ($310.89 per Sq Ft)
- 44 Units
- 32,150 Sq Ft
- 20,557 Sq Ft
- Unknown Cap Rate
Description
11231 Otsego Street is a well-maintained 44-unit apartment community located in the heart of North Hollywood, one of the San Fernando Valley's most dynamic rental submarkets. The property features a highly desirable and balanced unit mix consisting of 2 studio units, 21 one-bedroom units, and 21 two-bedroom units, catering to a broad tenant base that includes young professionals, couples, and small families. The asset benefits from efficient utility configuration, with individual metering for gas and electricity and master-metered water, supporting predictable operating expenses and streamlined management.From a tenant's perspective, the property offers both lifestyle convenience and functional amenities. Residents enjoy access to 60 on-site parking spaces, comprised of a combination of single and tandem parking, as well as on-site laundry facilities and trash chutes located on each floor, enhancing day-to-day convenience. The location places tenants near grocery stores, pharmacies, restaurants, and cafs, along with the vibrant NoHo Arts District. Proximity to public transportation, including major bus routes and Metro access, further strengthens the property's appeal to commuters and car-light renters.For investors, 11231 Otsego Street represents a compelling multifamily opportunity supported by scale, location, and operational efficiency. The property's unit mix and strong parking ratio promote stable occupancy, while individual utility metering reduces owner expense exposure. Its well-maintained condition limits near-term capital requirements, and the North Hollywood submarket continues to benefit from redevelopment, employment growth, and sustained rental demandpositioning the asset for consistent cash flow with potential upside through future rent growth or targeted value-add enhancements.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $9,995,000 |
| Property Type | Multi-Family |
| Usable Sqft | 32,150 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1974 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2353004026 |
| MLS # | 26655987 |
| Property ID | 292484232 |
| Lot Sqft | 20,557 |
| Zoning | LAC4 |
| Total Units | 44 |
| Days on Market | 28 |
| Original List Price | $9,995,000 |
| Date Updated | February 24, 2026 |
| Date Created | February 09, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $2,095 | $2,095 |
| Unit #2 | 2 | 2.00 | $1,307 | $2,613 |
| Unit #3 | 2 | 1.50 | $2,015 | $40,300 |
| Unit #4 | 1 | 1.00 | $1,755 | $36,852 |
| Gross Income (Yr) | $ 963,603 |
| Operating Expenses | $ 398,215 |
| Net Income (Yr) | $ 565,388 |
| Cap Rate | 5.66% |
Listing Provided By
Daniel Withers an agent of Marcus & Millichap. Lic #01325901
© 2026 CARETS and TheMLS. All rights reserved. Based on information from CARETS as of February 24, 2026 The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Contact Agent
Schedule Appointment
Showing Agent
Loading agent...
- 30 mins
- America/Phoenix
Sun
Mon
Tue
Wed
Thu
Fri
Sat
Robert Crawford
REAL ESTATE AGENT