5246 Cleon Avenue, North Hollywood, CA 91601
Property · 2 recorded sales since 2018
Sold December 2020
Listing Agent: Seth Hamilton (DRE #01897619) · Listing Office: Citivest Realty Services, Inc · Contact: 714-553-2001 · Bought with: Seth Hamilton · Citivest Realty Services, Inc · MLS #PW20200368 · Source: CRMLS
About this property
CLEON 8 - NOHO ARTS DISTRICT NEW CONSTRUCTION EIGHT UNIT - CofO issued, Green Certified, and located in the highly coveted North Hollywood Arts District. This non-rent-controlled luxury complex is comprised of four duplexes, totaling eight townhouse style units, each separately metered for all utilities, with private laundry rooms and two parking spaces. The property is complete with drought tolerant landscaping, as well as energy efficient building materials, appliances and fixtures presenting the buyer with a low maintenance, environmentally friendly property. Where this property stands out against much of the other new construction in the area is the stable and sustainable income of two-bedroom units. Whereas most new construction properties on the market promote lofty cap rates due to multiple roommates renting by the room, sharing up to five bedrooms in a unit with only two parking spaces, Cleon 8 takes the historically proven model of all two-bedroom units each with two parking spaces. This means one parking space for every bedroom in the development, far less congestion, and simple rent collections. As such Cleon 8 will see much lower turnover, lower maintenance, and higher value than a rent-by-room approached used on high bedroom count units. This property is now turn-key and ready for purchase during lease-up. Please contact us regarding this opportunity or one of the seller’s many other similar developments throughout Los Angeles.
Listing description from the December 2020 sale, as reported to CRMLS.
Sale history
