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5629 Cleon Ave
North Hollywood, CA 91601
3/4th Leased Fourplex | 5.33% Cap Rate! · Multifamily Property For Sale
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4 Units
Investment Highlights
- Live in one, rent the rest: collect income from 3 units to significantly offset your monthly mortgage
- A smarter alternative to a condo or SFR: achieve homeownership in NoHo with builtin income
- Potential to live at a significantly reduced net cost compared to renting or owning traditionally
- Vacant, fully renovated unit delivered at close: move-in ready with no renovation required
- Strong in-place rents provide immediate stability: ideal for owner-users or first-time investors
- 5.33% cap rate that actually pencils: solid return for a well-located, pride-ofownership asset
Executive Summary
5629 Cleon Ave is a rare fourplex owner-user 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 offers a compelling opportunity to live in a fully renovated, move-in ready 1-bedroom/1-bathroom unit while offsetting your monthly housing cost with income from the remaining three in-place units, creating a significantly more efficient path to homeownership in Los Angeles.
Delivered with one vacant, extensively renovated 1-bedroom/1-bathroom unit featuring updated flooring, countertops, designer bathroom finishes, and brand new appliances, a buyer can immediately move in without the need for renovations or downtime. Meanwhile, the remaining three units provide stable, day-one income, allowing an owner-user to substantially reduce their effective monthly cost of living compared to a traditional single-family home or condo purchase.
Beyond its strong appeal to owner-users, the property also performs as a solid investment, offering a 5.33% cap rate, a low-expense operating profile with separately metered gas and electric, and additional upside as in-place rents trend toward market. The efficient fourplex layout consisting entirely of one-bedroom units consistently attracts tenant demand, while recent exterior improvements including fresh paint and new landscaping enhance curb appeal and minimize near-term capital needs.
Ideally located near the NoHo Arts District and the North Hollywood Metro Station, the property benefits from close proximity to major employment hubs including Universal Studios, Warner Bros., and Disney, along with immediate access to dining, coffee, retail, and entertainment. With its unique ability to blend lifestyle and investment, 5629 Cleon Ave presents a standout opportunity for a buyer looking to build equity, generate income, and live in one of Los Angeles’ most dynamic rental markets.
Delivered with one vacant, extensively renovated 1-bedroom/1-bathroom unit featuring updated flooring, countertops, designer bathroom finishes, and brand new appliances, a buyer can immediately move in without the need for renovations or downtime. Meanwhile, the remaining three units provide stable, day-one income, allowing an owner-user to substantially reduce their effective monthly cost of living compared to a traditional single-family home or condo purchase.
Beyond its strong appeal to owner-users, the property also performs as a solid investment, offering a 5.33% cap rate, a low-expense operating profile with separately metered gas and electric, and additional upside as in-place rents trend toward market. The efficient fourplex layout consisting entirely of one-bedroom units consistently attracts tenant demand, while recent exterior improvements including fresh paint and new landscaping enhance curb appeal and minimize near-term capital needs.
Ideally located near the NoHo Arts District and the North Hollywood Metro Station, the property benefits from close proximity to major employment hubs including Universal Studios, Warner Bros., and Disney, along with immediate access to dining, coffee, retail, and entertainment. With its unique ability to blend lifestyle and investment, 5629 Cleon Ave presents a standout opportunity for a buyer looking to build equity, generate income, and live in one of Los Angeles’ most dynamic rental markets.
Property Facts
| Price Per Unit | $337,500 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 2,080 SF |
| Cap Rate | 5.33% | Average Occupancy | 75% |
| Gross Rent Multiplier | 13.83 | No. Stories | 1 |
| No. Units | 4 | Year Built/Renovated | 1954/2026 |
| Property Type | Multifamily | Parking Ratio | 1.92/1,000 SF |
| Zoning | LAR2 | ||
| Price Per Unit | $337,500 |
| Sale Type | Investment |
| Cap Rate | 5.33% |
| Gross Rent Multiplier | 13.83 |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.13 AC |
| Building Size | 2,080 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built/Renovated | 1954/2026 |
| Parking Ratio | 1.92/1,000 SF |
| Zoning | LAR2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,064 | 520 |
Property Taxes
| Parcel Number | 2415-006-027 | Improvements Assessment | $245,953 |
| Land Assessment | $301,327 | Total Assessment | $547,280 |
Property Taxes
Parcel Number
2415-006-027
Land Assessment
$301,327
Improvements Assessment
$245,953
Total Assessment
$547,280
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