2301 S Cloverdale AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90016
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,444 sqft
Price per Sqft $550
MLS Listing ID 24457063
Bedrooms 30
HOA Y/N No
Year Built 2019
Lot Size 10,084 Sqft
Property Description
MAJOR PRICE ADJUSTMENT! SELLER EXTREMELY MOTIVATED! BRING ALL OFFERS! This contemporary building in Mid-City Los Angeles, constructed in 2019, is non-LA rent controlled and boasts 5 upscale vertical townhouses, each designed with modern architecture that harmonizes style and functionality. Each unit features a spacious layout, including 6 bedrooms and 6.5 bathrooms, complete with elegant hardwood floors and thoughtfully designed interiors that showcase three levels of luxurious suites, each equipped with designer bathrooms and ample closet space. The entry level welcomes residents and guests with a generous living room, complemented by a guest bath and a chef's kitchen adorned with slab countertops and high-end stainless steel appliances ideal for entertaining. Additional building highlights include a secure gated entry, an inviting outdoor community courtyard, and 16 gated parking spaces. The property is pet-friendly, making it an attractive option for a diverse range of tenants. This prime location in Mid City LA offers easy access to vibrant local amenities and transportation options including the 10, 405, 110 freeways and E and K metro Line. The property currently has a solid 13.31 GRM and 5.7% cap rate despite having one vacancy. Fully occupied, the property has the potential to generate a gross income of $537k/year equating to an unheard of pro forma GRM of 10.71 and 7.55% cap rate. There are plans to add an additional 1bd/1ba ADU that could add additional income. Seller has priced this aggressively. Tours can be scheduled of the vacant unit with listing agents. Contact us soon before it goes!
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD2
Interior
Heating Central
Cooling Central Air
Flooring Laminate,Wood
Fireplace No
Appliance Microwave,Refrigerator,Dryer,Washer
Exterior
Parking Features Covered,Community Structure
Garage Spaces 16.0
Garage Description 16.0
Pool None
Community Features Gated
View Y/N Yes
View City Lights
Accessibility Safe Emergency Egress from Home
Total Parking Spaces 16
Private Pool No
Building
Entry Level Three Or More
Architectural Style Contemporary
Level or Stories Three Or More
New Construction Yes
Others
Senior Community No
Tax ID 5063008066
Security Features Gated Community
Special Listing Condition Standard