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5629 Cleon

North Hollywood, CA 91601

$1,285,000 $5,417/Mo

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Overview

Bed

Bath

5,553

Sqft(Lot)

Description

5629 Cleon Ave is a fully leased four-unit multifamily investment opportunity located on a quiet, tree-lined street in one of North Hollywood's most desirable pockets just moments from the NoHo Arts District. The property has recently been stabilized at 100% occupancy, providing investors with immediate cash flow from day one. Two of the four units have been leased on brand-new 2026 lease agreements, reducing near-term turnover risk while providing predictable income. The property's efficient four one-bedroom unit mix continues to attract strong tenant demand in one of Los Angeles' most sought-after rental submarkets. A standout feature of the offering is Unit D, which recently underwent an extensive renovation including updated flooring, countertops, designer bathroom finishes, and new appliances. Following completion of the renovation, the unit leased in just two days, demonstrating the strong rental demand and rent potential for upgraded units in the area. In addition to stable in-place income, the property offers meaningful value-add potential. Two units are currently leased below market rents, providing a clear path for future revenue growth through natural tenant turnover and rental increases. Current rents average $2,022 per month compared to an estimated market rent of approximately $2,250 per unit, creating built-in upside for future ownership. The property further benefits from separately metered gas and electric, on-site parking, recent exterior improvements including fresh paint and new landscaping, and a low-maintenance operating profile. Ideally located near the NoHo Arts District, North Hollywood Metro Station, Universal Studios, Warner Bros., and Disney, 5629 Cleon Ave presents a rare opportunity to acquire a stabilized asset with both strong current income and future upside in one of Los Angeles' most dynamic rental markets.

Property Details

Property Type : ResidentialIncome

Price : $1,285,000

AD Id : 86508996

MLS Id : BB26098181

Beds : 4

Lot Size : 5,553 Sqft

Year Built : 1954

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Interior Features

Appliances: GasRange, Refrigerator

Laundry Features: CommonArea
Heating & Cooling

Has Heating: Yes Heating: ForcedAir Has Cooling: Yes Cooling: WallWindowUnits

Building Information

Year Built: 1954

Building Area Total: 2080

Stories: 1

Pool Features: None

Private Pool: No

View: Neighborhood

Lot Information

Main Square Feet: 5553 Lot Size Acres: 0.1275 Lot Size Source: Assessor Lot Size Square Feet: 5,553 Lot Description: Landscaped,Level,StreetLevel

Listing Price Information

Listing Price: $1285000

Original Price: $1350000

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Tax Information

Parcel Number: 2415006027 Tax Lot: 133

Parking Information

Parking Total: 4

Location Information

Direction: Located on Cleon Ave, North of Burbank Blvd. WaterSource: Public

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