2301 S Cloverdale Ave

  • $5,995,000
For Sale Los Angeles, Mid-City
2301 Cloverdale Ave, Los Angeles, CA 90016, USA
2301 S Cloverdale Ave bedroom 2301 S Cloverdale Ave exterior 2301 S Cloverdale Ave exterior drone shot 2301 S Cloverdale Ave exterior drone shot 2301 S Cloverdale Ave exterior drone shot 2301 S Cloverdale Ave exterior drone shot 2301 S Cloverdale Ave exterior shot 2301 S Cloverdale Ave outside 2301 S Cloverdale Ave parking 2301 S Cloverdale Ave outside 2301 S Cloverdale Ave dining room 2301 S Cloverdale Ave living room and stairs 2301 S Cloverdale Ave bedroom 2301 S Cloverdale Ave bedroom 2301 S Cloverdale Ave bathroom 2301 S Cloverdale Ave laundry 2301 S Cloverdale Ave floorplan
  • Multifamily
  • Property Type
  • 5
  • Number of Units
  • 7.2
  • Cap Rate
  • 11.6
  • GRM
For Sale
2301 Cloverdale Ave, Los Angeles, CA 90016, USA
  • $5,995,000

Overview

  • Multifamily
  • Property Type
  • 5
  • Number of Units
  • 7.2
  • Cap Rate
  • 11.6
  • GRM

Description

This contemporary building named “The Cloverdale Commons” 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 14.27 GRM and 5.5% 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 11.16 and 7.2% cap rate. There are plans to add an additional 1bd/1ba ADU that could add additional income. Seller has priced this aggressively and is calling for offers by November 15, 2024. Tours can be scheduled of the vacant unit with listing agents. Contact us soon before it goes!

Details

  • Property Type: Multifamily
  • Property Status: For Sale
  • Property Size: 10,444* Sq Ft
  • Lot Size: 10,083 Sq Ft
  • Bedrooms: 30
  • Bathrooms: 35
  • Year Built: 2019
  • Price: $5,995,000
  • Number of Units: 5
  • GRM: 11.6
  • Price/SqFt: $574.01
  • CAP: 7.2
  • Address 2301 S Cloverdale Ave
  • City Los Angeles
  • State/county California
  • Zip/Postal Code 90016
  • Area Mid-City

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