5334 Cleon Avenue, North Hollywood, California 91601, North Hollywood, 91601 - 0 bed, 0 bath
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5334 Cleon Avenue
North Hollywood, California 91601
ACTIVE
CONDITION: EXCELLENT
0Beds
0Baths
2,775Sq Ft
6,038Lot Size
Property Price
LIST PRICE$1,280,000
EST. MARKET VALUE
$1,375,678
6% BelowMARKET VALUE
SUMMARY
This Triplex Income Property is a Strong Value Opportunity, listed at $1,350,000—positioned well below the $1,459,309 Fair Market Value by 7%. This valuation gap offers $109,309 in Instant Equity. Featuring a 2025-built ADU and remodeled primary units, the property holds a Mint Condition Rating. With LAR3 Zoning and all units vacant, it provides immediate rental upside and long-term development potential. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, high-yield asset in North Hollywood.
Estimated Market Value
$1,375,678+$95,678 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in North Hollywood.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5334 Cleon Avenue Subject | $1,280,000* List Price | 0 | 0 | 2,775 | $496 | - |
A 5431 Cartwright Active | $1,089,000 List Price | 0 | 0 | 1,890 | $576 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
The property features a brand new ADU built in 2025 and two fully remodeled units with modern kitchens (shaker cabinets, quartz counters, gold hardware), new flooring, recessed lighting, and updated systems including mini-split HVAC and separate utility meters, qualifying as a mint-condition renovation under 5 years old.
PROSSTRENGTHS & OPPORTUNITIES
- Immediate Rental Upside
The property is delivered with all three units vacant, allowing an investor to immediately secure market-rate tenants and achieve the projected $7,800+ monthly income without the complications of existing rent-controlled tenancies.
- Development Potential
Situated on a 6,038-square-foot lot with LAR3 zoning, the property offers significant long-term value through potential high-density redevelopment in the high-demand North Hollywood market.
- Modernized Infrastructure
Featuring a brand-new 2025-built ADU and remodeled primary units with separate meters for gas, electric, and water heaters, the property minimizes immediate capital expenditures while simplifying utility management.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2775, other record living area = 2080.
- Vintage Core Structure
Despite recent remodels and the new ADU, the primary structures date back to 1948, which may necessitate ongoing maintenance of older underlying systems compared to a fully ground-up new construction project.
- Lot Size Constraints
While zoned LAR3, the 6,038-square-foot lot size is relatively modest for the zone, which may limit the total number of units or parking configurations achievable in a future large-scale development.
About 5334 Cleon Avenue
Fully permitted detached 2-bedroom, 1-bath ADU. COC is completed. ADU built 2025. ALL UNITS VACANT! Exceptional North Hollywood Income Property with ADU & Prime Development Potential! Discover an outstanding investment opportunity at 5334 Cleon Ave in the heart of North Hollywood. This versatile income property features two remodeled 2-bedroom, 1-bath units plus a newly added 2-bedroom, 1-bath ADU, creating three separate living spaces with excellent income-producing potential. Situated on a 6,038-square-foot LAR3-zoned lot, the property offers an exceptional combination of strong cash flow, owner-user flexibility, and long-term development upside. The remodeled front units provide comfortable, modern living, while the spacious 2-bedroom, 1-bath ADU adds valuable rental income or flexible space for extended family, guests, or a home office. Whether you're looking to maximize rental returns, occupy one unit while renting the others, or explore future development opportunities (buyer to verify with the City of Los Angeles), this property offers outstanding versatility. Ideally located just minutes from the NoHo Arts District, major studios, shopping, dining, entertainment, Metro access, and convenient freeway connections, this is a rare opportunity to own a high-demand property in one of the San Fernando Valley's most sought-after neighborhoods. Property Highlights: Two remodeled 2-bedroom, 1-bath units Newly added 2-bedroom, 1-bath ADU LAR3 zoning with future development potential (buyer to verify) Excellent cash-flow opportunity for investors Ideal owner-user property with multiple income streams Potential rental $7,800 (or more buyer to verify) ADU Permitted GAS, Electric and water heater all separate meters. Water Meter is 5334 Unit 1/A Certificate of Occupancy completed by City of L.A. Prime North Hollywood location near the NoHo Arts District, studios, restaurants, shopping, and public transportation A rare opportunity to own a turnkey multi-unit property with three income-producing residences in one of Los Angeles' fastest-growing rental markets.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1948
- Lot Size
- 6,038 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 2,775 | 2,721.25 |
| Lot Size | 6,038 | 8,709.25 |
| Price | $1.28M | $1.14M |
| Price per sq ft | $461 | $414 |
| Built year | 1948 | 1950 |
| HOA | $0 | $0 |
| Days on market | 35 | 118 |
Pricing History
Listed for Sale
Aug 26, 2026
$1,280,000
$1,350,000
-5% Price Drop
Initial Listing
Price Change
Aug 6, 2026
$1,350,000
Initial Listing
Price Change
Aug 5, 2026
$135,000
Initial Listing
Sold
Sep 11, 2024
$1,050,000
Public Record
Sold
Apr 16, 2021
$1,000,000
Public Record