5325 Cleon Avenue, North Hollywood, California 91601, North Hollywood, 91601 - bed, bath

5325 Cleon Avenue, North Hollywood, California 91601 home-pic-0
ACTIVE$999,999
5325 Cleon Avenue, North Hollywood, California 91601
0Bed
0Bath
2,352Sqft
5,747Lot
Year Built
1955
Close
-
List price
$1,000K
Original List price
$1.2M
Price/Sqft
$425
HOA
-
Days on market
-
Sold On
-
MLS number
BB25020793
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1000.0K(33th), sqft - 2352(33th), beds - undefined(50th), baths - undefined(50th).

Prime Investment Opportunity in the NoHo Arts District! Located in the heart of one of LA’s most dynamic and sought-after neighborhoods, 5325 Cleon Ave is a rare 4-unit multifamily property offering incredible potential for investors or owner-users. Built in 1955, the property spans approximately 2,352 sq ft on a 5,747 sq ft lot. Each of the four units features 1 bedroom and 1 bathroom with spacious, light-filled living areas. Recent upgrades include a newer roof and updated sewer line, providing long-term value and reduced maintenance costs. A community laundry room adds everyday convenience for tenants, and the four detached garages offer additional rental income potential or the opportunity for ADU conversion (buyer to verify with city). Perfectly positioned near Metro Link, acting studios, professional dance studios, trendy restaurants, theaters, and boutique shops. Enjoy easy access to nightlife, Burbank, major studios, and the 170 & 134 freeways. This is a rare opportunity to own income-generating real estate in the heart of the thriving NoHo Arts

Condition Rating
Poor

The property was built in 1955, making it 69 years old. While the description notes a newer roof and updated sewer line, it explicitly states that the property 'may require further investment in older systems (e.g., electrical, plumbing beyond sewer line) or interior renovations to maximize rental potential and tenant appeal.' Without interior images, we must rely on this statement, which strongly suggests that the kitchens, bathrooms, and other interior finishes are significantly outdated and require substantial rehabilitation to meet current market standards and appeal. The exterior appears maintained, but the core interior components are indicated to need major updates, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Prime Location: Situated in the highly sought-after NoHo Arts District, offering a dynamic neighborhood with excellent cultural amenities, entertainment, and strong tenant demand.
Income-Generating Asset: A rare 4-unit multifamily property (quadruplex) providing immediate rental income and diversification for investors or owner-users.
Value-Add Potential: Four detached garages present a significant opportunity for additional rental income or potential ADU (Accessory Dwelling Unit) conversion, subject to city verification.
Recent Capital Improvements: Benefited from a newer roof and updated sewer line, reducing immediate capital expenditure and maintenance concerns for a new owner.
Excellent Connectivity: Strategically located with easy access to Metro Link, major studios (Burbank, Hollywood), freeways (170 & 134), and a vibrant array of restaurants, theaters, and shops.

Cons

Age of Property: Built in 1955, the property, despite some recent upgrades, may require further investment in older systems (e.g., electrical, plumbing beyond sewer line) or interior renovations to maximize rental potential and tenant appeal.
Unit Configuration: All four units are 1-bedroom, 1-bathroom, which could limit the tenant demographic or rental income potential compared to properties offering a mix of larger unit types.
Extended Market Time & Price Adjustment: The property has been on the market for several months and has undergone a significant price reduction from its original list price, potentially indicating challenges in attracting buyers or underlying market concerns.

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