North Hollywood Real Estate Market Overview
North Hollywood (NoHo) is a dynamic, arts-driven neighborhood in the eastern San Fernando Valley that has become increasingly popular among multifamily investors. Known for its creative energy, transit access, and ongoing revitalization, NoHo offers a strong combination of rental demand and long-term growth potential.
The neighborhood is roughly bounded by the 101 Freeway to the south, with Magnolia Boulevard and Burbank Boulevard serving as key commercial corridors. It borders Studio City and Toluca Lake to the west, Burbank to the east, and Universal City to the south. The NoHo Arts District along Lankershim Boulevard is a major draw, featuring theaters, galleries, restaurants, and entertainment venues.
North Hollywood benefits from excellent connectivity, including the Metro Red Line station, making it attractive to young professionals, entertainment industry workers, and creatives. Residents enjoy a vibrant urban-suburban mix with diverse dining, shopping at NoHo Commons, and proximity to Universal Studios Hollywood and the Hollywood Bowl.
2025 North Hollywood Market Statistics at a Glance
North Hollywood Annual Multifamily Apartment Building Sales Statistics*
Buildings Sold: 63
Avg. Sale Price: $3,522,783
Avg. Price/Unit: $232,984
Avg. Months to Sale: 4 mos
Avg. Price/SF: $277
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It is imperative to understand how rent control and Measure ULA exposure will impact the value of your North Hollywood apartment building
North Hollywood Multifamily Market Overview 2026
North Hollywood (including the NoHo Arts District) is a dynamic San Fernando Valley neighborhood within the City of Los Angeles known for strong renter demand, ongoing revitalization, transit access (Metro Red/Orange Lines), and a mix of older and newer multifamily product. Cap rates in the area typically range from approximately 5.0% to 6.5% (with newer or non-RSO assets often trading tighter), reflecting Valley pricing relative to the Westside. Price per unit commonly falls in the $225,000 to $375,000+ range, depending on building quality, unit mix, condition, vintage, and exact location.
The typical apartment building is a smaller-to-midsize 4- to 40-unit property, often garden- or courtyard-style low-rise, with a substantial portion of the older inventory subject to the City of Los Angeles Rent Stabilization Ordinance (RSO). Buyer demand comes from private investors, 1031 exchange buyers, local operators, and value-add investors seeking solid cash flow and growth potential in a high-demand Valley submarket with improving demographics.
North Hollywood Rent Control and Measure ULA
As part of the City of Los Angeles, North Hollywood properties are subject to the Los Angeles Rent Stabilization Ordinance (RSO / LARSO). Most multi-unit buildings with certificates of occupancy dated before October 1, 1978 are covered. The allowable RSO rent increase for the period July 1, 2026 through June 30, 2027 is 3% (under the updated formula of 90% of CPI with a 1% floor and 4% ceiling; utility and dependent adders have been eliminated).
Buildings not covered by the RSO may still fall under AB 1482 statewide protections (generally 5% + CPI, currently 8.7% for the Los Angeles area for increases effective August 1, 2026–July 31, 2027). Measure ULA does apply in North Hollywood. As a City of Los Angeles neighborhood, sales of qualifying properties (generally $5 million and above) are subject to the Measure ULA transfer tax surcharges (4% on $5M–$10M sales; 5.5% on $10M+).
How to Sell a North Hollywood Apartment Building
North Hollywood benefits from strong renter demand, Arts District momentum, and solid long-term fundamentals. However, RSO restrictions significantly impact cash flow growth and buyer underwriting for older buildings, and Measure ULA can affect net proceeds on higher-priced sales. Sellers of long-held properties must also navigate low tax basis, depreciation recapture, and potential 1031 exchange planning.
An experienced multifamily broker who understands North Hollywood’s position within the broader San Fernando Valley market, Los Angeles RSO rules, Measure ULA implications, and the local/1031 buyer pool can help you evaluate pricing and the optimal path to maximize your net proceeds.
North Hollywood Multifamily Market Statistics
Average Rent vs Vacancy Rate- Historical & Estimated
2025 Q3: North Hollywood, California Multifamily Average Market Rent: $2,405 Average Vacancy Rate: 5.3%Average GRM and Cap Rate- Historical
2025: North Hollywood, California multifamily apartment average GRM: 12.6 Average Cap Rate 5.9%Number of Multifamily Buildings Sold- Historical
2025: North Hollywood, CA Multifamily Buildings Sold: 63Average Price/Unit and Price/SF- Historical
2025: North Hollywood, California Multifamily Average Price/Unit Sold: $232,984 Price/SF Sold: $277.13Historical and estimated market statistics for the North Hollywood, California multifamily apartment building submarket. The graphs above show the average Price/Unit, Price/SF, GRM, Cap Rate, Average Asking Market Rent and Vacancy for North Hollywood multifamily apartment buildings for the years 2020-2025. *All data has been obtained from CoStar. Jake Plewa, the Taksa Investment Group and ReMax Commercial cannot guarantee the accuracy of the data above. The graphs and statistics are for information purposes only. Frequently Asked Questions: North Hollywood Apartment Buildings
Does Measure ULA apply to apartment sales in North Hollywood?
Yes. Measure ULA is a City of Los Angeles ordinance and applies to qualifying property sales in North Hollywood (and other LA City neighborhoods).
Is North Hollywood under rent control?
Yes. As part of the City of Los Angeles, most multi-unit buildings built before October 1, 1978 are covered by the Los Angeles Rent Stabilization Ordinance (RSO). The allowable increase for July 1, 2026–June 30, 2027 is 3%. Some buildings may instead fall under AB 1482.
How do I sell an apartment building in North Hollywood?
Work with a broker who understands North Hollywood’s position in the San Fernando Valley, the Los Angeles RSO system, Measure ULA transfer tax implications, the local and 1031 buyer pool, and how to accurately present both in-place income and long-term upside. Precise pricing and clear communication of the regulatory framework are especially important in this market.
Disclaimer The information on this page is provided for general informational purposes only and does not constitute legal, financial, tax, or investment advice. Jake Plewa, the Taksa Investment Group, and RE/MAX Commercial make no representations or warranties regarding the accuracy, completeness, or reliability of any data, statistics, graphs, or market information presented. Market conditions change, and past performance is not indicative of future results. You should independently verify all information and conduct your own thorough due diligence, including consulting qualified professionals, before making any decisions related to the sale or purchase of an apartment building.
What is the typical cap rate and price per unit in North Hollywood?
Cap rates in North Hollywood generally range from approximately 5.0% to 6.5%. Price per unit commonly falls between $225,000 and $375,000+, depending on building condition, unit mix, vintage (RSO vs. newer), location, and quality.
Best North Hollywood Apartment Broker
We are a full-service real estate brokerage specializing in Los Angeles apartment building sales and multifamily transactions. With a powerful nationwide network of lenders, brokers, and industry professionals, we deliver exceptional results for apartment building owners and investors both locally in Greater Los Angeles and across the United States.
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Our experienced team delivers accurate apartment building valuations and multifamily property valuations throughout NOHO and the San Fernando Valley. Using in-depth market analysis and recent comparable sales (comps), we help apartment owners determine true market value — ideal for inherited buildings, estate planning, or tax purposes.
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