5308 Cleon, North Hollywood, California 91601, North Hollywood, 91601 - 3 bed, 2 bath
ACTIVE$880,000
5308 Cleon, North Hollywood, California 91601
3Beds
2Baths
1,389Sqft
5,977Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Potential: As a duplex (Residential Income property), it offers flexibility for an owner-occupant to live in one unit and rent the other, or for an investor to generate strong rental income from both units.
Top Cons:
Age of Property & Renovation Needs: Built in 1948, the property likely requires substantial renovation or redevelopment to maximize its potential and meet modern standards, implying significant upfront investment for a buyer.
Compared to the nearby listings
Price:$880.0K vs avg $1.65M ($-770,000)11%
Size:1,389 sqft vs avg 3,382 sqft11%
Price/sqft:$634 vs avg $48889%
More Insights
Built in 1948 (77 years old).
Condition: Built in 1948, this property is significantly aged and requires substantial renovation. Both kitchens are extremely dated with old cabinets, worn countertops (laminate and tile), very old appliances, and outdated lighting, necessitating full remodels. The bathrooms are functional but also very dated, requiring complete overhauls. The property lacks central air conditioning, relying on window units, and general interior finishes like wood paneling, flooring, and light fixtures are worn and outdated. The listing description itself indicates the need for 'substantial renovation or redevelopment' to maximize its potential.
Year Built
1948
Close
-
List price
$880K
Original List price
$900K
Price/Sqft
$634
HOA
-
Days on market
-
Sold On
-
MLS number
DW25233299
Home ConditionPoor
Features
Patio
ViewNeighborhood
About this home
We are pleased to present 5308 Cleon Ave North Hollywood. This property is ideal for any purchaser, either as an owner/occupant, or as an Investor/Flipper. Whether you’re looking to renovate and collect strong rental income, live in one unit and rent the other, or fully redevelop, the possibilities are endless. High-Demand NoHo Arts District Location! Perfectly positioned near Metro Link, acting studios, professional dance studios, trendy restaurants, theaters, and boutique shops. Close proximity to schools, Burbank, major studios, and the 170 & 134 freeways.
Condition Rating
Poor
Built in 1948, this property is significantly aged and requires substantial renovation. Both kitchens are extremely dated with old cabinets, worn countertops (laminate and tile), very old appliances, and outdated lighting, necessitating full remodels. The bathrooms are functional but also very dated, requiring complete overhauls. The property lacks central air conditioning, relying on window units, and general interior finishes like wood paneling, flooring, and light fixtures are worn and outdated. The listing description itself indicates the need for 'substantial renovation or redevelopment' to maximize its potential.
Pros & Cons
Pros
Income-Generating Potential: As a duplex (Residential Income property), it offers flexibility for an owner-occupant to live in one unit and rent the other, or for an investor to generate strong rental income from both units.
Prime Location (NoHo Arts District): Situated in the high-demand NoHo Arts District, providing excellent access to trendy restaurants, theaters, boutique shops, acting studios, and professional dance studios.
Exceptional Commuter Accessibility: Perfectly positioned near the Metro Link and major freeways (170 & 134), offering convenient commuting options for residents.
Versatile Investment Opportunity: Ideal for various purchasers, including owner/occupants, investors seeking rental income, flippers, or those looking to fully redevelop the property, offering multiple exit strategies.
Proximity to Major Employment Hubs: Close proximity to Burbank and major studios, which can attract a strong tenant pool and contribute to sustained rental demand.
Cons
Age of Property & Renovation Needs: Built in 1948, the property likely requires substantial renovation or redevelopment to maximize its potential and meet modern standards, implying significant upfront investment for a buyer.
Recent Price Reduction: The property recently experienced a price reduction from $900,000 to $880,000, which could indicate initial overpricing or a lack of immediate buyer interest at the higher price point.
Lack of Specific Interior Upgrades: The description emphasizes location and potential but does not highlight any recent interior renovations or premium features, suggesting the property may be in original or dated condition requiring updates.