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    1371 S Cloverdale Ave

    Los Angeles, CA 90019
    • $2,150,000
    • STATUS: Active
    • ON SITE: 29 days
    • ID#: 20-589826
    UPDATED: 10 min ago
    $2,150,000
    • 11
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,904
      SQFT
    • $438
      $/SQFT
    Type:
    Multi-Family
    Built:
    1926
    County:

    School Ratings & Info

    Description

    WOW! - PRICED UNDER-MARKET DUE TO COVID-19. STRONG SPANISH 5-PLEX IN WELL-MAINTAINED CONDITION! ACTUAL CAP RATE OF 5.1 (FUTURE PRO-FORMA 6.8 CAP). Beautiful, pride-of-ownership income property that cash flows well yet has future VALUE ADD potential too. PRIME LOCATION & DESIRABLE NEIGHBORHOOD. Owner has already COMPLETED SOFT STORY RETROFIT, copper plumbing, new low-e windows, new roof. Beautiful units in Miracle Mile pocket w/ hardwood floors & remodeled kitchens. Very stable, easy to rent building. Safe, stable portfolio property, easy to maintain. Always in demand. Stated rents are accurate. 3 units remodeled and at market rent (the other 2 units provide value-add opportunity. Original condition). Parking provided for all units. Plus 4 storage unit single car garages. 3 units have privatized outdoor spaces. E-Z access to the restaurants, shops and cafes on Pico, Picfair Village, Highly Likely, Miracle Mile, LACMA, Culver City Art District. RARE OPPORTUNITY - DON'T MISS!

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-12T22:42:15. 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.randyplaice.com/homes/106780411
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    1371 S Cloverdale Ave Los Angeles, CA 90019

    • Price: $2,150,000
    • Status: Active
    • Updated: 10 min ago
    • ID#: 20-589826
    11
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    4,904
    SQFT
    $438
    $/SQFT
    1926
    Built
    Neighborhood:
    Beverly Center-Miracle Mile
    County:
    Los Angeles
    Area:
    Beverly Center-Miracle Mile
    Property Description
    WOW! - PRICED UNDER-MARKET DUE TO COVID-19. STRONG SPANISH 5-PLEX IN WELL-MAINTAINED CONDITION! ACTUAL CAP RATE OF 5.1 (FUTURE PRO-FORMA 6.8 CAP). Beautiful, pride-of-ownership income property that cash flows well yet has future VALUE ADD potential too. PRIME LOCATION & DESIRABLE NEIGHBORHOOD. Owner has already COMPLETED SOFT STORY RETROFIT, copper plumbing, new low-e windows, new roof. Beautiful units in Miracle Mile pocket w/ hardwood floors & remodeled kitchens. Very stable, easy to rent building. Safe, stable portfolio property, easy to maintain. Always in demand. Stated rents are accurate. 3 units remodeled and at market rent (the other 2 units provide value-add opportunity. Original condition). Parking provided for all units. Plus 4 storage unit single car garages. 3 units have privatized outdoor spaces. E-Z access to the restaurants, shops and cafes on Pico, Picfair Village, Highly Likely, Miracle Mile, LACMA, Culver City Art District. RARE OPPORTUNITY - DON'T MISS!
    Exterior Features

    Covered Parking 4 Direction Faces East Exterior Construction Stucco Levels Ground LevelTwo Lot Size Area 7834 Other Structures Accessory BldgsAccessory Dwelling Unit Parking Garage AssignedGarage Roof Composition Style Mediterranean Total Parking 12 View Description None View YN No Water Frontage None

    Interior Features

    Baths Total 8.00 Common Walls Detached/No Common Walls Cooling Wall/Window Equipment Other Fireplace Rooms Decorative Flooring Hardwood Heating Wall Kitchen Features Granite CountersRemodeledStone Counters Laundry In UnitInside

    Property Features

    Assessed Total Value 667325 Gross Income 183600 Gross Operating Income 178092 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 145267.00 Number Of Buildings 2 Number Of Units 5 Property Condition Updated/Remodeled Sale Type Standard Security Features Gated Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 32825 Type Of Units 5-Plex Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard2

    Listing provided courtesy of Rachel Hsieh DRE#01913428 of Keller Williams Realty Los Feliz.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-12T22:42:15. 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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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355