About 11234 Hatteras
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 Valleys 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 propertys 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 sellers preliminary assumptions, the project could potentially generate a 156% return on equity over an estimated 18-month period utilizing 90% LTV financing. Buyer to independently verify all development costs, financing assumptions, rental projections, cap rates, timelines, and projected returns. The location further strengthens the investment story. The property is positioned near the NoHo Arts District, North Hollywood Metro Station, NOHO West, and the planned Distri
