5629 Cleon AveLos Angeles, CA 91601

Property Details for 5629 Cleon Ave

Year built

1954

Property size (Sq ft)

2,080 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional four-unit apartment building, located at 5629 Cleon Ave in the desirable North Hollywood neighborhood of Los Angeles, California (zip code 91601), presents a compelling investment opportunity. Built in 1954, the property boasts a total of 2,080 square feet and is offered at an asking price of $1,200,000, translating to $577 per square foot and $300,000 per unit. The building's strong financial performance is evident in its Net Operating Income (NOI) of $48,731, resulting in a 3.70% capitalization rate. The unit mix consists of four one-bedroom, one-bathroom apartments. The property is well-maintained and benefits from its prime location within walking distance of the vibrant NoHo Arts District. This presents a value-add opportunity for investors seeking to capitalize on the strong rental demand in this highly desirable area of Los Angeles. The building's solid foundation and established tenancy provide a stable income stream, while the potential for renovations and upgrades offers significant upside. This is an ideal investment for those seeking a well-located, income-producing asset with substantial growth potential in a thriving Los Angeles neighborhood.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.173

Longitude

-118.368

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