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Multifamily

409 S Cloverdale Ave

409 S Cloverdale Ave, Los Angeles, CA 90036

Listing Price: $3,275,000

Cap Rate
3.29%
Number of Units
8
GRM
17.96
Occupancy
97.0%
Price/Unit
$409,375
Price/Gross SF
$418.58
Gross SF
7,824

Investment Overview

Marcus and Millichap is pleased to present 409 S. Cloverdale Avenue, a two-story apartment building located in the desirable neighborhood of Miracle Mile, one mile south of Melrose Avenue.

Situated on a 8,461 SF lot, the property offers 7,824 rentable SF. The current unit mix consists of seven (7) one-bedroom/one-bathroom units and one (1) two-bedroom/one-bath unit.

The property is within close-proximity to The Grove and Pan Pacific Park, giving residents convenient access to an array of popular shopping and dining venues.

409 S Cloverdale Avenue has been held by current ownership for over 23 years, offering investors the perfect opportunity to purchase an investment property with huge upside potential, which could be achieved through interior and exterior renovations.

Investment Highlights

  • First Time on The Market in 23 Years
  • A+ Miracle Mile Location
  • Value-Add Opportunity

Exclusively Listed By

Financing By

Multifamily

409 S Cloverdale Ave

Listing Price: $3,275,000

Cap Rate
3.29%
Number of Units
8
GRM
17.96
Occupancy
97.0%
Price/Unit
$409,375
Price/Gross SF
$418.58
Gross SF
7,824

Investment Highlights

  • First Time on The Market in 23 Years
  • A+ Miracle Mile Location
  • Value-Add Opportunity

Investment Overview

Marcus and Millichap is pleased to present 409 S. Cloverdale Avenue, a two-story apartment building located in the desirable neighborhood of Miracle Mile, one mile south of Melrose Avenue.

Situated on a 8,461 SF lot, the property offers 7,824 rentable SF. The current unit mix consists of seven (7) one-bedroom/one-bathroom units and one (1) two-bedroom/one-bath unit.

The property is within close-proximity to The Grove and Pan Pacific Park, giving residents convenient access to an array of popular shopping and dining venues.

409 S Cloverdale Avenue has been held by current ownership for over 23 years, offering investors the perfect opportunity to purchase an investment property with huge upside potential, which could be achieved through interior and exterior renovations.

Exclusively Listed By

Financing By

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