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1357 S Cloverdale Avenue

Los Angeles (City), CA 90019
  • $1,775,000
  • STATUS: Active
  • ON SITE: 20 Days
  • ID#: 22153623
UPDATED: 76 min ago
$1,775,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1928
County:

School Ratings & Info

Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)


Description

357 Cloverdale Ave is a true turn-key investment opportunity to purchase a well maintained 4-unit apartment building in the heart of Mid-Wilshire, just off Pico Blvd between S. La Brea Ave and S Fairfax Ave. The building totals 4,006 SF and features a unit mix of two one-bedrooms (1,100SF) and two two-bedrooms (1,100SF) with in-suite laundry, the majority have been updated with wood flooring, lighting, and new appliances. The two garden level units feature a private front yard area. Additionally, the property features a community garden and outdoor lounge area.Strong in-place rental income provides stable current cash flow to an investor with additional upside over 22% achievable through further interior unit renovations such as recessed lighting and upgraded kitchens and bathrooms. The property is being offered with minimal deferred maintenance required and all units are separately metered for gas and electricity. Unique to this listing are the four dedicated garages units for each tenant with room for eight tandem parking spaces.1357 Cloverdale Ave has a high Walk Score of 92, close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. Mid Wilshire is one of the best neighborhoods in Los Angeles to live, with about 49,468 people. Living in Mid-Wilshire offers residents an urban feel and most residents rent their homes. In Mid-Wilshire there are a lot of restaurants, coffee shops, and parks which attract young professionals to make this neighborhood their home.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T23:29:22.76. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
www.legacy15.com/homes/128402030
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1357 S Cloverdale Avenue Los Angeles (City), CA 90019

  • Price: $1,775,000
  • Status: Active
  • On Site: 20 Days
  • Updated: 76 min ago
  • ID#: 22153623
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1928
Built
Neighborhood:
C19 - Beverly Center-Miracle Mile
County:
Los Angeles
Area:
C19 - Beverly Center-Miracle Mile
Property Description
357 Cloverdale Ave is a true turn-key investment opportunity to purchase a well maintained 4-unit apartment building in the heart of Mid-Wilshire, just off Pico Blvd between S. La Brea Ave and S Fairfax Ave. The building totals 4,006 SF and features a unit mix of two one-bedrooms (1,100SF) and two two-bedrooms (1,100SF) with in-suite laundry, the majority have been updated with wood flooring, lighting, and new appliances. The two garden level units feature a private front yard area. Additionally, the property features a community garden and outdoor lounge area.Strong in-place rental income provides stable current cash flow to an investor with additional upside over 22% achievable through further interior unit renovations such as recessed lighting and upgraded kitchens and bathrooms. The property is being offered with minimal deferred maintenance required and all units are separately metered for gas and electricity. Unique to this listing are the four dedicated garages units for each tenant with room for eight tandem parking spaces.1357 Cloverdale Ave has a high Walk Score of 92, close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. Mid Wilshire is one of the best neighborhoods in Los Angeles to live, with about 49,468 people. Living in Mid-Wilshire offers residents an urban feel and most residents rent their homes. In Mid-Wilshire there are a lot of restaurants, coffee shops, and parks which attract young professionals to make this neighborhood their home.
Exterior Features

Parking Features Garage Parking Total 4

Interior Features

Appliances DishwasherMicrowaveRefrigeratorDryerWasher Heating Natural Gas Heating YN Yes

Property Features

Association Fee 0 Garage YN Yes Gross Income 108276 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 64433 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lard2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T23:29:22.76. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
 
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Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)