$2,150,000

1371 S Cloverdale Avenue

Los Angeles CA, 90019

Description

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 LOCATION & 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

Details

MLS#21727750
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1926
Days On Site7

Features

SQ Feet4,904
Acreage0.17
Water FrontNo
Property ViewNo
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Area Information
StateCA
CountyLos Angeles
CityLos Angeles
Zip Code90019
AreaC19 - Beverly Center-Miracle Mile
Listing VS Median (in 90019)
Price:
$2,150,000
low | high
Med:
$659,000
100% of Average
SqFt:
4,904
low | high
Med:
1,232
100% of Average
$ / SqFt:
$438
low | high
Med:
$535
27.992449411054% of Average
On Site:
7
low | high
Med:
0
Sourced by Back At You
Listing Updated: May 11, 2021 3:45:28 PM PDT
Rachel Hsieh LogoMLS Number: 21727750
Listing Provided By:
Rachel Hsieh  of  Keller Williams Realty Los Feliz
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.