Prepared Exclusively for Samantha Lau
July 2026
Since 2013, the LAAA Team has closed more than 490 transactions totaling over $1.5 billion in volume and 4,600 units across Southern California, with particular depth in North Hollywood, Toluca Lake, Studio City, and Valley Village.
Our practice is built on disciplined underwriting, the deepest comparable-sales dataset in the submarket, and a marketing engine that reaches every active multifamily buyer in Los Angeles. We advise owners on when and how to sell - not just whether - and we price to clear, not to languish.
For 11168 Camarillo St, that means an evidence-based opinion of value anchored in recent North Hollywood and Toluca Lake vintage apartment sales - including an eight-unit, 1962-built sale two blocks away - presented with the same rigor we would bring to defending the price against a buyer's due-diligence challenge.
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11168 Camarillo St is a 1962-built, two-story eight-unit apartment building in the 91602 pocket of North Hollywood bordering Toluca Lake and near the NoHo Arts District. The property includes five 1BD/1BA units, two 2BD/2BA units, and one 3BD/2BA unit totaling 7,298 SF on a 7,500 SF LAR3 lot, with a laundry room and carport parking.
The current owner has systematically reinvested in the building's major systems: a completed LAMC Division 93 soft-story retrofit (Certificate of Compliance issued January 2021), building-wide replacement of the original Zinsco electrical sub-panels with new Square D 100-amp panels (2024), a new water supply line to the units (2024), and wall-heater replacements across multiple units (2024). Turned units have been remodeled with new kitchens, quartz counters, stainless appliances, updated baths, and vinyl-plank flooring.
The July 2026 owner rent roll totals $14,143 per month, including one vacant unit at its $1,950 advertised rent. Nearby achieved and current market evidence supports conservative underwritten rents of $1,950 for 1BD units, $2,500 for 2BD units, and $3,200 for the 3BD unit, producing approximately 27% gross rental upside.
The subject sits in the 91602 ZIP, the North Hollywood pocket adjoining Toluca Lake and Riverside Drive's shopping and dining district. Camarillo Street is a quiet residential block west of Lankershim Boulevard, within walking distance of the NoHo Arts District's theaters, restaurants, and nightlife.
Residents are minutes from the Metro B (Red) Line's North Hollywood terminus - the Valley's primary rail link to Hollywood and Downtown - and the NoHo West retail center. Universal Studios, Warner Bros., and Disney are a short drive away, anchoring an entertainment-industry renter base, with quick connections to the 101, 134, and 170 freeways.
North Hollywood benefits from major transit-oriented development around the NoHo station, sustained studio employment, and demonstrated demand for renovated vintage units - the same dynamic reflected in the property's achieved rents and nearby rent evidence.
| Location Details | |
|---|---|
| Submarket | North Hollywood (91602) |
| ZIP | 91602 (shared w/ Toluca Lake) |
| Major Employers | Universal, Warner Bros., Disney |
| Transit | Metro B Line - NoHo Station |
| Freeway Access | 101 / 134 / 170 |
| Zoning | LAR3-1 |
| Property Overview | |
|---|---|
| Units | 8 |
| Year Built | 1962 |
| Building SF | 7,298 |
| Unit Mix | 5x 1BD/1BA, 2x 2BD/2BA, 1x 3BD/2BA |
| Stories | 2 |
| Parking | Attached carport |
| Site & Zoning | |
|---|---|
| APN | 2353-027-005 |
| Lot Size | 7,500 SF (0.17 ac) |
| Zoning | LAR3-1 |
| Occupancy | 7 of 8 (87.5%) |
| Laundry | On-site laundry room |
| Building Systems | |
|---|---|
| Seismic | Soft-story retrofit complete (2021 CofC) |
| Electrical | Square D 100A panels, all units (2024) |
| Plumbing | New water supply line to units (2024) |
| Heating | Wall heaters, multiple replaced 2024 |
| Gas Safety | 9 seismic shutoff valves (2019) |
| Regulatory & Utilities | |
|---|---|
| Rent Control (RSO) | Yes - City of LA RSO |
| AB 1482 | RSO governs (stricter) |
| Owner Pays | Water, common electric, gas, trash |
| Registration | LAHD / SCEP |
| Other Income | Laundry room |
Click any image to enlarge. Interior images depict remodeled and representative units and illustrate the post-turn condition achievable as units roll to market. Source: listing media.
1031 Exchange Buyers
Investors trading into a stabilized Valley asset with documented upside and the expensive systems work - seismic and electrical - already complete and permitted.
Private Local Value-Add Investors
Hands-on NoHo and Valley operators who understand RSO turnover economics and can execute a measured interior renovation program as units become available.
First-Time Multifamily Buyers
Buyers stepping up from smaller product who want an 8-unit with real scale, laundry income, and a de-risked capital profile in a submarket they know.
The combination of a 91602 address, permit-verified capital improvements, and approximately 27% supported rental upside broadens the buyer pool beyond a typical vintage eight-unit.
"Three units are renting under $1,400."
Units 4, 5, and 6 average $1,306 per month, while the owner is advertising the renovated vacancy at $1,950. That spread, together with the external rent evidence shown next, supports a patient turnover strategy under the applicable rent regulations.
"It's RSO."
Rent regulation is a familiar feature of pre-1978 City of Los Angeles apartment investments and is reflected in the comparable market. The completed soft-story retrofit and recent electrical work reduce two common capital concerns for buyers of this vintage.
"How will buyers view the current income?"
The in-place income is supported by the owner's July 2026 rent roll. The following Rent Comps section supports the conservative market-rent assumptions, and the valuation is presented only after the comparable evidence.
| Address | Unit Type | SF | Monthly Rent | Basis / Date |
|---|---|---|---|---|
| 11601 Moorpark St | 1BD / 1BA | 500 | $2,250 | Leased · Jul 2025 |
| 10806 Sarah St | 1BD / 1BA | 650 | $2,200 | Leased · May 2025 |
| 11162 Camarillo St #307 | 1BD / 1BA | 795 | $2,125 | Leased · Dec 2025 |
| 10757 Hortense St #303 | 2BD / 2BA | 929 | $2,500 | Active · Jul 2026; prior lease $2,450 |
| 10248 Riverside Dr #D | 2BD / 1BA | 850 | $2,600 | Active · Jul 2026 |
| 11255 Camarillo St | 2BD / 2BA | 1,150 | $2,695 | Active · Jul 2026 |
| 4406 Cahuenga Blvd #101 | 3BD / 2BA | 1,300 | $3,200 | Leased / expired · Jul 2026 |
| Palermo Villas · 11100 Riverside Dr | 3BD / 2BA | 1,356 | $3,475 | Active · Jul 2026 |
The underwritten rents are deliberately below or at the lower end of the relevant evidence. The 1BD assumption is below three recent achieved rents, the 2BD assumption is supported by a current $2,500 listing and nearby asks of $2,600 to $2,695, and the 3BD assumption matches a recent $3,200 achieved/expired listing below current larger-unit asking rent. Applied to the supported 5x1BD, 2x2BD, and 1x3BD mix, these assumptions produce $17,950 per month of pro forma rent.
| Address | Submarket | Yr | Units | Bldg SF | Sale Price | $/Unit | $/SF | Dist | Sold |
|---|---|---|---|---|---|---|---|---|---|
| 11100 Camarillo St | North Hollywood | 1962 | 8 | 7,236 | $1,700,000 | $212,500 | $235 | 0.12 mi | Jul 2026 |
| 4870 Bakman Ave · photos ↗ | North Hollywood | 1962 | 8 | 6,832 | $1,625,000 | $203,125 | $238 | 0.22 mi | Dec 2025 |
| 10935 Peach Grove St · photos ↗ | North Hollywood | 1967 | 10 | 7,414 | $2,000,000 | $200,000 | $270 | 0.34 mi | Dec 2025 |
| 4300 Tujunga Ave | Studio City | 1963 | 10 | 8,892 | $2,975,000 | $297,500 | $335 | 0.69 mi | Jul 2026 |
| 10602 Landale St · photos ↗ | Toluca Lake | 1956 | 7 | 5,808 | $1,936,000 | $276,571 | $333 | 0.85 mi | Dec 2025 |
| 5326 Cahuenga Blvd · photos ↗ | North Hollywood | 1964 | 8 | 4,422 | $1,600,000 | $200,000 | $362 | 1.04 mi | Apr 2026 |
| Median (6 sold comps) | $1,818,000 | $207,813 | $302 | - | - | ||||
These six pre-1979 sales provide a consistent RSO-vintage comparison. The nearby 11100 Camarillo sale is an eight-unit, 1962 property with the same 5x1BD, 2x2BD, and 1x3BD mix; it traded for $1,700,000, or $212,500 per unit and $235 per square foot. The 10935 Peach Grove sale closely matches the subject's building area at $270 per square foot, while 10602 Landale and 4300 Tujunga establish upper benchmarks at $276,571 to $297,500 per unit.
| Address | Submarket | Yr | Units | List Price | $/Unit | $/SF | Status |
|---|---|---|---|---|---|---|---|
| 11017 Hartsook St | North Hollywood | 1937 | 6 | $1,100,000 | $183,333 | $372 | Active · MLS |
| 4173 Fair Ave | North Hollywood | 1975 | 5 | $1,825,000 | $365,000 | $340 | Active · Marcus & Millichap |
| 4441-4445 Tujunga Ave | Studio City | 1946 | 6 | $2,445,000 | $407,500 | $463 | Active · MLS |
| Average (3 active comps) | $1,790,000 | $318,611 | $392 | - | |||
Current competitive inventory spans $340 to $463 per square foot and averages $318,611 per unit. The subject's recommended basis remains below the active range on a price-per-square-foot basis and below the active average per unit, while offering a comparable small-building profile in the same renter market.
| Unit | Current Rent/Mo | Status | Owner Notes |
|---|---|---|---|
| 1 | $2,179 | Occupied | |
| 2 | $1,850 | Occupied | |
| 3 | $1,950 | Vacant | Remodeled; advertised at $1,950 |
| 4 | $1,297 | Occupied | |
| 5 | $1,264 | Occupied | |
| 6 | $1,357 | Occupied | |
| 7 | $2,496 | Occupied | Renovated; recent turn |
| 8 | $1,750 | Occupied | |
| Total | $14,143/mo | 7 of 8 occupied | $169,716 annual GSR |
Current rents and occupancy are from the owner's July 2026 rent roll. The supported physical mix is 5x 1BD/1BA, 2x 2BD/2BA, and 1x 3BD/2BA; the source materials do not assign those types to individual unit numbers, so no assignment is implied above.
| Unit Type | Units | Market Rent/Mo | Monthly Total |
|---|---|---|---|
| 1BD / 1BA | 5 | $1,950 | $9,750 |
| 2BD / 2BA | 2 | $2,500 | $5,000 |
| 3BD / 2BA | 1 | $3,200 | $3,200 |
| Total | 8 | $17,950 |
| Income | Current | Pro Forma |
|---|---|---|
| Gross Scheduled Rent [1] | $169,716 | $215,400 |
| Laundry Income [2] | $341 | $341 |
| Less: Vacancy (3%) [3] | ($5,091) | ($6,462) |
| Effective Gross Income | $164,966 | $209,279 |
| Expenses | Current | Pro Forma |
|---|---|---|
| Real Estate Taxes [4] | $23,342 | $23,342 |
| Insurance [5] | $8,900 | $8,900 |
| Utilities [5] | $8,340 | $8,340 |
| Repairs & Maintenance [5] | $8,500 | $8,500 |
| Landscaping [5] | $2,400 | $2,400 |
| Rubbish [5] | $3,800 | $3,800 |
| Management (4% EGI) [6] | $6,599 | $8,371 |
| Reserves [7] | $2,000 | $2,000 |
| Total Operating Expenses | $63,881 | $65,653 |
| Net Operating Income | $101,085 | $143,626 |
[1] Gross Scheduled Rent: Current = owner rent roll dated July 2026, $14,143/mo including the vacant remodeled unit at its $1,950 advertised rent. Pro forma = $17,950/mo using the supported physical mix and the market rents shown above.
[2] Laundry Income: Owner-reported annual laundry room income.
[3] Vacancy: 3.0% of GSR, standard for stabilized small multifamily in this submarket (owner's own P&L uses the same factor).
[4] Real Estate Taxes: Buyer underwriting is shown at 1.17% of the recommended value. The owner materials contain both a $3,700 Prop 13 line item and a separate $23,500 current-tax reference; neither is used for the buyer's reassessed tax projection.
[5] Insurance / Utilities / R&M / Landscaping / Rubbish: Owner-reported annualized operating figures (7/2026 statement): $8,900 / $8,340 / $8,500 / $2,400 / $3,800.
[6] Management: Underwritten at 4.0% of EGI per LAAA standard for third-party-managed vintage product (owner currently reports $6,500 off-site management).
[7] Reserves: $250/unit, standard tier for 1960s vintage with major systems recently addressed.
The owner's expense line items total $44,140, while the source statement labels the total as $44,210. The itemized figures control this analysis. Buyer to verify all income, expenses, leases, and unit assignments in due diligence.
| Operating Data | |
|---|---|
| Price | $1,995,000 |
| Number of Units | 8 |
| Price / Unit | $249,375 |
| Price / SF | $273 |
| Gross SF | 7,298 |
| Year Built | 1962 |
| Returns (Reassessed) | |
|---|---|
| Cap Rate (Current / Pro Forma) | 5.07% / 7.20% |
| GRM (Current / Pro Forma) | 11.75x / 9.26x |
| Rental Upside | 26.9% |
| Income (Current) | |
|---|---|
| Gross Scheduled Rent | $169,716 |
| Laundry Income | $341 |
| Less Vacancy (3%) | ($5,091) |
| Effective Gross Income | $164,966 |
| Operating Expenses | ($63,881) |
| Net Operating Income | $101,085 |
| Income (Pro Forma) | |
|---|---|
| Gross Scheduled Rent | $215,400 |
| Laundry Income | $341 |
| Less Vacancy (3%) | ($6,462) |
| Effective Gross Income | $209,279 |
| Operating Expenses | ($65,653) |
| Net Operating Income | $143,626 |
| Expense Ratios | |
|---|---|
| Current OpEx / EGI | 38.7% |
| Pro Forma OpEx / EGI | 31.4% |
| Current OpEx / Unit | $7,985 |
The recommended value of $1,995,000 equates to $249,375 per unit, bracketed by the nearby 11100 Camarillo sale at $212,500 per unit and the 10602 Landale and 4300 Tujunga benchmarks at $276,571 to $297,500 per unit. Its $273 per-square-foot basis closely tracks 10935 Peach Grove at $270 per square foot and remains approximately 10% below the six-sale median of $302 per square foot. The resulting 5.07% current cap rate and 7.20% pro forma cap rate reflect buyer reassessment of real estate taxes and the conservative rent assumptions supported above.
The closest physical benchmark is the July 2026 sale at 11100 Camarillo St, an eight-unit, 1962 property with the same 5x1BD, 2x2BD, and 1x3BD mix. Its $1,700,000 sale establishes a current same-street basis; the subject's completed soft-story retrofit, recent electrical and plumbing work, owner-reported rent roll, and supported rental upside provide the basis for the recommended premium.