Listing Courtesy of: Rachel Hsieh - Keller Williams Realty Los Feliz
$2,150,000 Down payment assistance icon Calculate Payment

1371 Cloverdale Ave Los Angeles, CA 90019

Single Family Residence
11 Beds
Baths
Sq. Ft.
0.18 Acre Lot

Property Overview

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RARE & EXCELLENT IMMEDIATE OPPORTUNITY. 5-Unit Remodeled Spanish-Mediterranean style building in Wilshire/Miracle Mile Area. 3 Units (out of 5) Delivered Vacant or Can be Rented by Close (Buyer's Choice). If fully occupied, it will be 5.6% cap rate, with future pro-forma for 7% cap rate. PRIME LOCAT...ION & DESIRABLE NEIGHBORHOOD. Owner has already completed soft-story retrofit of garage. All 2 and 3 bedroom units. Laundry in units. RENT-READY IMMEDIATELY. New low-e windows, updated roof and copper plumbing. All units are Clean/Remodeled, except for unit 1371 (which will be delivered vacant but needs about $40k improvement budget). Very stable, easy to rent area and building. Parking provided for all units. Plus 4 storage unit single car garages. Near shops and cafes on Pico, Miracle Mile, LACMA, Culver City Art District. RARE OPPORTUNITY - CASH OFFERS RECOMMENDED IF PURCHASING VACANT. SEE DOCSMANAGER FOR OFFERING MEMORANDUM AND RENT ROLLS AND EXPENSE SHEET Continue reading
MLS#
21-727750
Property Type
Single Family
Bedrooms
11
Year Built
1926
Price per Sq. Ft.
$438.42
Lot Size
0.18

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Example seller's savings based on a total commission of 3.99% vs. a traditional 6%. It is subject to change based on agreement between seller and agent. More
Listing Courtesy of: Rachel Hsieh - Keller Williams Realty Los Feliz
Barbara Lynn Simmons, License CALBRE 637579, Xome Inc., License CALBRE 1932600, barbara.simmons@xome.com, 844-400-XOME (9663), 2945 Townsgate Road, Suite 200, Westlake Village, CA 91361


Based on information from Combined LA/Westside Multiple Listing Service, Inc. as of 5/13/2021. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
This content last refreshed on 5/12/2021 8:51:00 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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