5334 Cleon Avenue, North Hollywood, California 91601, North Hollywood, 91601 - bed, bath

5334 Cleon Avenue, North Hollywood, California 91601 home-pic-0
ACTIVE$1,475,000
5334 Cleon Avenue, North Hollywood, California 91601
0Bed
0Bath
2,935Sqft
6,038Lot
Year Built
1948
Close
-
List price
$1.48M
Original List price
$1.48M
Price/Sqft
$503
HOA
-
Days on market
-
Sold On
-
MLS number
SR25086696
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.48M(44th), sqft - 2935(44th), beds - undefined(50th), baths - undefined(50th).

Prime North Hollywood Triplex – All Vacant Remodeled & New Construction with Development Potential Located in the vibrant heart of North Hollywood, just steps from the Arts District, this exceptional triplex presents a rare opportunity for investors and owner-users alike. Set on an R3-zoned lot, the property includes two fully remodeled units and a brand-new third unit, combining modern comfort with unbeatable income potential. Whether you're looking to live in one and rent out the other two, or expand the property portfolio, this offering checks all the boxes. The R3 zoning provides significant upside—build additional units or take advantage of the lot's full potential to develop a multi-unit apartment building in one of LA’s most desirable rental markets. Don't miss this chance to secure a versatile property in a rapidly growing neighborhood with excellent walkability to local cafes, galleries, and transit

Condition Rating
Excellent

Despite the original build year of 1948, the listing explicitly states the property includes 'two fully remodeled units and a brand-new third unit.' The images confirm extensive, high-quality renovations, showcasing modern wood-look tile flooring, recessed lighting, new mini-split AC units, and contemporary kitchens and bathrooms. One bathroom, in particular, features new marble-look tiling, a modern vanity with gold fixtures, and hexagonal shower floor, indicative of brand-new construction. While one kitchen shows painted older-style cabinets, it is complemented by new countertops, backsplash, and a modern range. The presence of a brand-new unit and two extensively remodeled units brings the overall condition to an excellent standard, meeting current quality standards with virtually new components.
Pros & Cons

Pros

Prime Location & Walkability: Situated in the vibrant heart of North Hollywood, steps from the Arts District, offering excellent walkability to local cafes, galleries, and transit, enhancing tenant appeal and property value.
Significant Development Potential: Located on an R3-zoned lot, providing substantial upside for investors to build additional units or develop a larger multi-unit apartment building in a desirable rental market.
Strong Income & Owner-User Potential: An exceptional triplex with all units vacant, allowing for immediate market-rate rental income. It's versatile for investors or owner-users looking to live in one unit and rent out the others.
Modernized Units: Includes two fully remodeled units and a brand-new third unit, offering modern comfort and reducing immediate capital expenditure for a new owner.
High Demand Rental Market: Positioned in one of LA’s most desirable and rapidly growing rental markets, ensuring strong tenant demand and potential for consistent rental income.

Cons

Age of Original Structure: The original property was built in 1948. While units are remodeled/new, the underlying infrastructure (e.g., foundation, main plumbing/electrical lines) may still be original, potentially leading to unforeseen maintenance or upgrade costs.
Lack of Specific Unit/Property Details: The description is general about 'remodeled' and 'brand-new' units but lacks specifics on key upgrades (e.g., HVAC, windows, roof condition, parking availability, common area amenities), which could impact long-term tenant satisfaction and operational costs.
Initial Vacancy & Lease-Up Risk: While 'All Vacant' is a strength for setting market rents, it also means the property is currently generating no income, requiring the new owner to quickly secure tenants and manage potential vacancy periods and associated costs during the lease-up phase.

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