Triplex with Live-Work
For Sale
$999,000
6041 Cleon Ave, North Hollywood, CA 91606
Residential Income, North Hollywood, CA
Property Size1,822 SF
Lot Size0.16 Acres
Price / SF$548.30
Days on Market48
Property Features for 6041 Cleon Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LARD1.5
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 1, Office, Bedroom 2, Bathroom 2
Parking
3
Parking features
Gated, Driveway
Directions
Take Cahuenga Blvd to Oxnard Street
Subdivision
North Hollywood
Standard status
Active
APN
2414-004-031
Size
1,822 SF
Lot size
0.16 Acres
Utilities
Heating system
Central
Cooling system
Wall Unit(s)
Building Details
Year built
1953
Floors in Building
1
Number of units
3
Flooring type
Tile
Listing Agency:
Equity Union
(818) 989-2000
Listed By:
Aliza Tesar · License #02001690
(323) 821-2102
Added: Jul 6
Changed: Aug 19
Last Checked: Aug 22 at 5:06AM
MLS# 26855165
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex-style live/work property is privately gated and sits on a flat LARD1.5-zoned lot. Three separately functioning units create flexible use as an owner-user live/work setup, with an additional detached storage building for projects, hobbies, or extra storage. The front building is configured as a workspace with soaring ceilings, abundant storage, a utility room, and a half bathroom.
The central residence features a 3-bedroom, 1-bath floorplan with custom ceiling details, dual entrances, and private side and rear patios. At the rear, a detached 1-bedroom, 1-bath residence provides its own kitchen, laundry area, and outdoor space. All structures are delivered vacant at the close of escrow.
Additional property details include tile flooring, central heating, wall unit(s) cooling, and gated driveway parking. The property is located in North Hollywood (Los Angeles County) at 6041 Cleon Ave, near the NoHo Arts District area, with access to dining, shopping, entertainment, major studios, public transportation, and freeway access.
The central residence features a 3-bedroom, 1-bath floorplan with custom ceiling details, dual entrances, and private side and rear patios. At the rear, a detached 1-bedroom, 1-bath residence provides its own kitchen, laundry area, and outdoor space. All structures are delivered vacant at the close of escrow.
Additional property details include tile flooring, central heating, wall unit(s) cooling, and gated driveway parking. The property is located in North Hollywood (Los Angeles County) at 6041 Cleon Ave, near the NoHo Arts District area, with access to dining, shopping, entertainment, major studios, public transportation, and freeway access.
Key Highlights
- 0.1591‑acre flat lot zoned LARD1.5
- Three separately functioning units plus a detached storage building
- Front workspace with soaring ceilings, abundant storage, utility room, and half bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,827
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$796,540
$796.5K
Cap Rate 7%
$568,957
$569.0K
Cap Rate 9%
$442,522
$442.5K
Market Conditions
NOI Build-Up for 1,822 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$70.0K $38.40/SF
− Vacancy
−$16.9K −$9.25/SF
EGI
$53.1K $29.15/SF
− OpEx
−$13.3K −$7.29/SF
NOI
$39.8K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$796,540
Cap Rate 7%
$568,957
Cap Rate 9%
$442,522
Alternative Uses
Best Use
Office B
$569.0K
$497.8K – $663.8K
NOI $39,827 @ 7.0% cap · market cap 3.99%
Second Best
Mixed Use
$527.1K
$461.2K – $614.9K
NOI $36,896 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$975.5K
$853.6K – $1.14M
NOI $68,284 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 91606, CA
43,955
Population
16,563
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
78%
High-School Grad
3.3 sq mi
ZIP Area
13,320
Density / Sq Mi
$66,884
Median Household Income
$36,497
Median Earnings
$1,744
Median Rent
$801,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Privately gated triplex on a flat LARD1.5-zoned lot with three separately functioning units, central heating, and gated driveway parking.
Where is this triplex located?
The property is located at 6041 Cleon Ave North Hollywood, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 0.1591‑acre flat lot zoned LARD1.5; Three separately functioning units plus a detached storage building; Front workspace with soaring ceilings, abundant storage, utility room, and half bathroom
