Description

5629 Cleon Ave is a rare fourplex owner-user opportunity located on a quiet, tree-lined street in one of North Hollywoods 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

Features