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Multifamily

1357 S Cloverdale Ave

1357 S Cloverdale Ave, Los Angeles, CA 90019

Listing Price: $1,775,000

Cap Rate
3.63%
Number of Units
4
Price/Unit
$443,750
Price/Gross SF
$443.09
Gross SF
4,006

Investment Overview

1357 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.

Investment Highlights

  • 1357 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 La Brea Ave & Fairfax Ave
  • The building totals 4,006 SF and features a unit mix of two one-bedrooms (1,100 SF) and two two-bedrooms (1,100 SF) with in-suite laundry
  • Strong in-place rental income provides stable current cash flow to an investor with additional upside over 22% achievable through further interior unit renovations
  • Each unit has their own in-unit laundry
  • Garden level units feature a private front yard, and all tenants have access to a community garden and outdoor lounge area
  • The property is being offered with minimal deferred maintenance required and all units are separately metered for gas and electricity
  • Unique to this building are four dedicated garages units for each tenant with room for a total of eight tandem parking spaces
  • With a walk score of 92, the property is in close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle

Exclusively Listed By

Multifamily

1357 S Cloverdale Ave

Listing Price: $1,775,000

Cap Rate
3.63%
Number of Units
4
Price/Unit
$443,750
Price/Gross SF
$443.09
Gross SF
4,006

Investment Highlights

  • 1357 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 La Brea Ave & Fairfax Ave
  • The building totals 4,006 SF and features a unit mix of two one-bedrooms (1,100 SF) and two two-bedrooms (1,100 SF) with in-suite laundry
  • Strong in-place rental income provides stable current cash flow to an investor with additional upside over 22% achievable through further interior unit renovations
  • Each unit has their own in-unit laundry
  • Garden level units feature a private front yard, and all tenants have access to a community garden and outdoor lounge area
  • The property is being offered with minimal deferred maintenance required and all units are separately metered for gas and electricity
  • Unique to this building are four dedicated garages units for each tenant with room for a total of eight tandem parking spaces
  • With a walk score of 92, the property is in close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle

Investment Overview

1357 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.

Exclusively Listed By

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