Open House Wed, Jun 16th 12:00 PM - 02:00 PM
Address
1371 S Cloverdale Avenue Los Angeles, CA
Price
$ 2,150,000
Property Attributes
  • MLS#21727750
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaBeverly Center-Miracle Mile
  • Zip90019
  • StyleMediterranean
  • Price$ 2,150,000
  • Bedrooms11
  • Full Bathrooms8
  • Half Bathrooms0
  • Lot Size7,834 SqFt
Listing Provided Courtesy Of:
Rachel Hsieh with Keller Williams Realty Los Feliz.
Data Source:
CRMLS
Property Description

RARE & EXCELLENT IMMEDIATE OPPORTUNITY. DELIVERED AT 5.6% CAP RATE! 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 AND FINANCED OFFERS OK! SEE DOCSMANAGER FOR OFFERING MEMORANDUM AND RENT ROLLS AND EXPENSE SHEET

Price History
5/5/2021 Listed $2,150,000

General Features

Architectural Style Mediterranean
Cooling Wall/Window Unit(s)
Flooring Wood
Garage Y/N Yes
Heating Wall Furnace
Listing Agent Rachel Hsieh - BRE#01913428
Listing Agent State License 01913428
MLS Area C19 - Beverly Center-Miracle Mile
Parking Features Assigned, Garage, One Space, Tandem
Property Type Residential Income
Special Listing Conditions Standard
Total Units 5
View None
Virtual Tour http://www.1371Cloverdale.com
Zoning LARD2

Interior Features

Air Conditioning Y/N Yes
Fireplace Features None
Heating Y/N Yes
Laundry Features Inside

Exterior Features

Lot Size Acres 0.17
Lot Size Area 7834
Lot Size Square Feet 7834
Lot Size Units Square Feet
Number of Buildings 2

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90019

Price
AVG $1.88M
$2.15M
Visits
AVG 80
15
Year Built
AVG 1934
1926
Walkscore
AVG 85
92
Data Provided by Walkscore ® not using MLS data

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