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    660 S Cloverdale Ave

    Los Angeles, CA 90036
    • $5,675,000
    • STATUS: Active
    • ON SITE: 118 days
    • ID#: 20-562230
    UPDATED: 63 min ago
    $5,675,000
    • 20
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,240
      SQFT
    • $614
      $/SQFT
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Ratings & Info

    Description

    Charming and well-maintained 20-unit investment opportunity in prime Miracle Mile, one of the most desirable submarkets of Los Angeles. The property has undergone interior and exterior renovations, while offering the opportunity to add value through additional renovations. The Property features 20 well-designed studio units, which are the most coveted unit type for Los Angeles' urban renter pool. 10 out of the 20 units have been extensively renovated with high-end finishes which include new stainless-steel appliances, quartz countertops, laminate and tile flooring, new kitchen cabinets and tile backsplashes, new fixtures, new paint, and A/C units, and 4 of the units have been partially renovated. The Property is a Walker's Paradise, conveniently located amongst nearby amenities including famous restaurants, trendy bars, shopping, hotels, entertainment venues, museums and local transportation. Tenants a 4-minute walk to upcoming Metro's Purple Line at Wilshire/La Brea station.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-06T19:44:12.75. 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/103987331
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    660 S Cloverdale Ave Los Angeles, CA 90036

    • Price: $5,675,000
    • Status: Active
    • Updated: 63 min ago
    • ID#: 20-562230
    20
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    9,240
    SQFT
    $614
    $/SQFT
    1927
    Built
    Neighborhood:
    Beverly Center-Miracle Mile
    County:
    Los Angeles
    Area:
    Beverly Center-Miracle Mile
    Property Description
    Charming and well-maintained 20-unit investment opportunity in prime Miracle Mile, one of the most desirable submarkets of Los Angeles. The property has undergone interior and exterior renovations, while offering the opportunity to add value through additional renovations. The Property features 20 well-designed studio units, which are the most coveted unit type for Los Angeles' urban renter pool. 10 out of the 20 units have been extensively renovated with high-end finishes which include new stainless-steel appliances, quartz countertops, laminate and tile flooring, new kitchen cabinets and tile backsplashes, new fixtures, new paint, and A/C units, and 4 of the units have been partially renovated. The Property is a Walker's Paradise, conveniently located amongst nearby amenities including famous restaurants, trendy bars, shopping, hotels, entertainment venues, museums and local transportation. Tenants a 4-minute walk to upcoming Metro's Purple Line at Wilshire/La Brea station.
    Exterior Features

    Lot Size Area 6502 Other Structures None Parking Garage None Pool YN No Tennis YN No Total Parking 0

    Interior Features

    Baths Total 20.00 Cooling Air Conditioning Den No Dining Room No Equipment Ceiling FanDishwasherFreezerGarbage DisposalMicrowaveRange/OvenRefrigerator Family Room No Heating Wall

    Property Features

    Gross Income 375391 Gross Operating Income 364129 Like Units1 20 Net Operating Income 248529.00 Number Of Buildings 1 Number Of Units 20 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 115600 Type Of Units Multifamily Zoning Lac2

    Listing provided courtesy of Janet Neman DRE#01069127 of Kidder Mathews Of California, Inc..


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-06T19:44:12.75. 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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