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1357 S Cloverdale Ave

Los Angeles, CA 90019
  • $1,775,000
  • STATUS: Active
  • ON SITE: 15 Days
  • MLS #: 22-153623
UPDATED: 45 min ago
$1,775,000
  • 4
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,006
    SQFT
  • $443
    $/SQFT
Type:
Multi-Family
Built:
1928
County:

School Ratings & Info

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 the Combined LA/Westside Multiple Listing Service as of 2022-05-21T21:42:53.26. 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.
www.searchdesertrealestate.com/homes/128399395
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1357 S Cloverdale Ave Los Angeles, CA 90019

  • Price: $1,775,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 45 min ago
  • MLS #: 22-153623
4
Beds
0
Baths
0
½ Baths
0.14
Acres
4,006
SQFT
$443
$/SQFT
1928
Built
Neighborhood:
Beverly Center-Miracle Mile
County:
Los Angeles
Area:
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

Lot Size Area 6219 Other Structures None Parking Garage Garage Is DetachedGarage Total Parking 4

Interior Features

Baths Total 4.00 Cooling Window Unit(S)Other Equipment RefrigeratorMicrowaveDishwasherDryerWasher Heating Natural Gas

Property Features

Assessed Total Value 1361251 Gross Income 108276 Gross Operating Income 102862 Like Units1 2 Like Units2 2 Net Operating Income 64433.00 Number Of Buildings 1 Number Of Units 4 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 38429 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lard2

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-21T21:42:53.26. 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.
 
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