Subject Property is zoned for development of 50 units by right (Buyer to Verify) and has an impressive frontage on two North/South Avenues (Cleon Avenue to the West, and Satsuma Avenue to the East).Built in 1942, Cleon Avenue Apartments consist of 21 One-Bedroom/ One-Bath, 4 Two-Bedroom/ One-Bath, 3Studios, and 4 Bachelor units offering the buyer an investment with significant rental upside and the potential of redevelopment into a sizable asset in the future.
Listing provided courtesy of
, Marcus & Millichap
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Known to locals as NoHo, North Hollywood is known as the creative heart of the San Fernando Valley. Recording studios, theaters, and a thriving arts district make NoHo something special. Access to public transportation and a growing nightlife are turning this area into more of an urban center.
Real Estate: North Hollywood real estate offers many different options with single family homes for sale, as well as condos and townhouses. Ranch-style homes are popular in this area. The NoHo Commons retail area is home to several newer developments with apartment and loft units for rent.
Community Life: North Hollywood is increasingly becoming a destination for all of the San Fernando Valley. The NoHo Arts District is a great place to see a show at a local theater, enjoy a meal, and browse local art galleries. Café culture is popular here with plenty of places to have a coffee and work or relax. The North Hollywood Recreation Center and Valley Plaza Park offers gyms, auditorium, baseball diamonds, basketball courts and an outdoor pool. The NoHo Market is held every Saturday and includes fruits and vegetables from California farmers as well as other foods from local vendors, clothing, crafts, an Artist Village, and more.
Education: North Hollywood is served by the Los Angeles Unified School District including Maurice Sendak Elementary, Fair Avenue Elementary, Victory Boulevard Elementary, Roy Romer Middle School, and East Valley Senior High. Local private schools include The Wesley School, Montessori Academy of North Hollywood, Laurel Hall, and San Fernando Valley Professional.
Transportation: North Hollywood is easily accessed by the 101 and 170 Freeways. The North Hollywood Metro Station connects with the Red and Orange line. The area is also served by several bus routes including the 152/153.
Local Attractions: The El Portal Theatre was built in 1926 as a vaudeville and silent movie house and now has three theaters. The Television Academy, home of the Emmy Awards, is creating a new media center for both the industry and the public.
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