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5629 Cleon Ave
North Hollywood, CA 91601

$1,285,000 USD

Multifamily For Sale  •  2,080 SF

Property Details

  • Property Type Multifamily
  • Total Building Size 2,080 SF
  • Lot Size 0.13 AC
  • Year Built 1954
  • Cap Rate 5.62 %
  • Zoning LAR2
50 Transit Score
70 Walk Score

Highlights

100% Leased Fourplex: Fully stabilized and generating immediate cash flow.
Two New 2026 Leases: Recent leasing activity provides strong income stability and reduces near-term rollover risk.
Renovated Unit D Leased in Just 2 Days: Demonstrates exceptional tenant demand and validates rental pricing in the market.
Value-Add Opportunity: Two units currently leased below market rents provide a clear path to future revenue growth.
Proven Rental Upside: Current average rents of approximately $2,022/month versus market rents of approximately $2,250/month.
Attractive In-Place Returns: 5.62% current cap rate with 6.44% pro forma cap rate potential.

Property Flyers

Financial Summary (Actual)

Net Operating Income: $72,182 USD (2026)
Cap Rate: 5.62 %
Total Expenses: $22,830 USD

Public Transportation

Commuter RailDriveWalkDistance
Burbank-Bob Hope Airport (Ventura County Line - Southern California Regional Rail Authority (Metrolink)) 6 min - 2.9 mi
7 min - 3.4 mi
Transit/SubwayDriveWalkDistance
North Hollywood Station (Orange Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 16 min 0.8 mi
AirportDriveWalkDistance
Bob Hope 7 min - 2.7 mi
Los Angeles International 36 min - 25.1 mi
Long Beach (Daugherty Field) 49 min - 35.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 4
Type: Surface
Included in Rent: Yes
Elizabeth Maddox 818-859-7242 Myunits.com Inc
Elizabeth Maddox 818-859-7242 Myunits.com Inc