Gated Triplex with Detached
New
For Sale
$949,000
6041 Cleon Ave, North Hollywood, CA 91606
Residential Income, North Hollywood, CA
Property Size1,745 SF
Lot Size0.16 Acres
Price / SF$543.84
Days on Market2
Property Features for 6041 Cleon Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LARD1.5
Bedrooms
3
Bathrooms
2
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3
Parking
3
Parking features
Driveway, Gated
Directions
Take Cahuenga Blvd to Oxnard Street
Subdivision
North Hollywood
Standard status
Active
APN
2414-004-031
Size
1,745 SF
Lot size
0.16 Acres
Utilities
Heating system
Central
Cooling system
Ceiling Fan(s), Wall/Window Unit(s)
Amenities
gated
Building Details
Year built
1953
Floors in Building
1
Number of units
3
Listing Agency:
Equity Union
(818) 989-2000
Listed By:
Aliza Tesar · License #02001690
(323) 821-2102
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 24 at 11:06PM
MLS# 26989783
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.
6041 Cleon Avenue is a 1,745-square-foot triplex on a 0.1591-acre, privately gated lot zoned LARD1.5. The front building includes high ceilings, substantial storage, a utility room, and a half bath. The central residence has 3 bedrooms, 1 bathroom, custom ceiling details, dual entrances, and side and rear patios. A detached rear residence adds 1 bedroom, 1 bathroom, a kitchen, laundry area, and outdoor space. A separate storage building provides additional enclosed utility space.
Built in 1953, the property includes driveway parking and will be delivered vacant at close of escrow. The site is in North Hollywood near the NoHo Arts District, with access to dining, shopping, entertainment, major studios, public transportation, and freeway connections.
Built in 1953, the property includes driveway parking and will be delivered vacant at close of escrow. The site is in North Hollywood near the NoHo Arts District, with access to dining, shopping, entertainment, major studios, public transportation, and freeway connections.
Key Highlights
- Three separately functioning units on a 0.1591‑acre LARD1.5‑zoned lot
- 1,745 square feet of property area with a detached storage building
- Central residence includes 3 bedrooms, 1 bathroom, and side and rear patios
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
$38,144
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
4.02%
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%
$762,880
$762.9K
Cap Rate 7%
$544,914
$544.9K
Cap Rate 9%
$423,822
$423.8K
Market Conditions
NOI Build-Up for 1,745 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
$67.0K $38.40/SF
− Vacancy
−$16.1K −$9.25/SF
EGI
$50.9K $29.15/SF
− OpEx
−$12.7K −$7.29/SF
NOI
$38.1K $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%
$762,880
Cap Rate 7%
$544,914
Cap Rate 9%
$423,822
Alternative Uses
Best Use
Office B
$544.9K
$476.8K – $635.7K
NOI $38,144 @ 7.0% cap · market cap 4.02%
Second Best
Mixed Use
$504.8K
$441.7K – $588.9K
NOI $35,336 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$934.3K
$817.5K – $1.09M
NOI $65,399 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Three separately functioning units include residential, workspace, storage, and private outdoor areas.
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 $949,000.
What are key features of this property?
This property features: Three separately functioning units on a 0.1591‑acre LARD1.5‑zoned lot; 1,745 square feet of property area with a detached storage building; Central residence includes 3 bedrooms, 1 bathroom, and side and rear patios
