$4,200,000
Sale price
Multifamily · North Hollywood
The Hortense VI
10742 Hortense St · Sold · $4,200,000 · 2024 – 2025
6
Units delivered
21 mo
Hold period
1031
Proceeds exchanged forward
The Investment
The multifamily build that proved the sale exit — then rolled forward tax-deferred.
A ground-up six-unit multifamily building in North Hollywood, and the counterpoint to the three retained assets: this one was underwritten with a sale exit and executed on it.
The building was completed and sold in October 2025 for $4,200,000.
The disposition proceeds were exchanged under Section 1031 into 1949 17th St in Santa Monica, deferring the gain and rolling the capital forward into the next project rather than paying it out to tax. That exchange was a sponsor-owned transaction and should not be assumed to apply to any Assemble Capital investment.
Gallery
The Property.
The Outcome
How It Finished.
| Strategy | Result | Years |
|---|---|---|
| Ground-up multifamily | Sold — $4,200,000 | 2024 – 2025 |
Detailed project financials are discussed privately with investors we have an established relationship with. How we work with investors →
This project was completed by the principals through Thornton Development Group or an affiliated predecessor entity. It was not an Assemble Capital offering and did not involve Assemble Capital investors. Sale prices are recorded sale prices. Past performance is not indicative of future results.
Investment Cycle
How the Deal Ran.
Every project follows the same arc — acquire, design and permit, build, market, exit. What changes is where the time and the risk concentrate.
2024
Acquire
North Hollywood site acquired for a six-unit ground-up program.
2024
Permit
Multifamily permitting completed.
2024–2025
Build
Six units constructed and delivered.
2025
Market
Marketed as a stabilized multifamily asset.
Oct 2025
Exit
Sold at $4,200,000 after a 21-month hold.
2025
Exchange
Proceeds exchanged under Section 1031 into 1949 17th St, Santa Monica.
The Takeaway
Underwriting multiple exits means the sale option is real. This asset was built to be sellable, and it sold.
Investor Relationships
Interested in How We Work?
We develop Los Angeles residential projects alongside investors we know well, and the principals personally guarantee the project loans, never our investors. Project details are shared privately, once we’ve gotten to know you. Nothing here is an offer to sell or a solicitation to buy any security.