5848 Cleon Avenue, North Hollywood, California 91601, North Hollywood, 91601 - 8 bed, 7 bath
ACTIVE$1,995,000
5848 Cleon Avenue, North Hollywood, California 91601
8Beds
7Baths
4,299Sqft
13,551Lot
Year Built
1938
Close
-
List price
$2M
Original List price
$2.5M
Price/Sqft
$464
HOA
-
Days on market
-
Sold On
-
MLS number
25492253
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $2.00M(79th), sqft - 4299(90th), beds - 8(97th), baths - 7(95th).
Prime investment at 5848 & 5846 Cleon Ave, North Hollywood. This property features a 2,118 sqft main house with 3 beds, 2 baths, central AC, and a 459 sqft oversized garage, paired with a modern 1,200 sqft ADU, a permitted 500.5 sqft guest house, and a 480.5 sqft recreation room. A 67 sqft laundry room, 201 sqft covered patio, and fruit-bearing garden boost appeal. Generating ~$9,000/month in rental income, in addition if you do SB-9, it offers room for another home and junior ADU for maximizing ROI in dynamic North Hollywood.
Condition Rating
Fair
The property, built in 1938, includes a main house with central AC, suggesting some updates. However, the listing explicitly notes the 'Age of Main Structure' as a weakness, indicating potential for original systems and finishes needing updates. While there's a 'modern ADU' which would likely score higher, the overall property condition is weighed down by the main house's age and implied lack of recent, extensive renovation. The absence of interior photos for the main house and other units (except the ADU, which is only described as 'modern') prevents a higher score, as it suggests the interiors are not a primary selling point for their contemporary style or pristine condition. The exterior appears well-maintained, but the interior condition of the primary residence likely requires minor updates or shows signs of being outdated, aligning with a 'Fair' rating.
Pros & Cons
Pros
Exceptional Income Potential: Currently generating approximately $9,000/month in rental income, with significant upside for maximizing ROI through SB-9 for additional units (another home and junior ADU).
Diverse Multi-Unit Configuration: Comprises a main house, a modern ADU, a permitted guest house, and a recreation room, offering multiple income streams and flexible living arrangements.
Expansive Lot with Development Opportunity: A substantial 13,551 sqft lot in North Hollywood provides considerable potential for further development and value appreciation under SB-9 regulations.
Main House Comforts: The 2,118 sqft main house is equipped with central AC, a desirable amenity enhancing tenant comfort and property value.
Enhanced Property Features: Includes an oversized garage, dedicated laundry room, covered patio, and a fruit-bearing garden, adding to tenant appeal and overall property utility.
Cons
Age of Main Structure: Built in 1938, the main house may require ongoing maintenance or updates to its original systems and finishes, potentially incurring future capital expenditures.
Management Complexity: Operating and maintaining multiple distinct units (main house, ADU, guest house, recreation room) can be more demanding for property management than a single-unit property.
Recent Price Adjustment: A substantial reduction from the original list price ($2,499,999 to $1,995,000) suggests potential market resistance or an initial overvaluation, which buyers may scrutinize.