2301 S Cloverdale Ave, Los Angeles, CA 90016

$5,995,000
30
BD
35
BA
10,444
SqFt
List Price
$5,995,000
MLS#
24-457063
Year Built
2019
Bedrooms
30
Bathrooms
35
Living Sq. Ft
10,444
Lot Size
10,083
Lot Location
City
Days on Market
10
Property Type
Multifamily
Style
Contemporary

Property Description

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 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!

Additional Information

Association Amenities
Gated Parking
Lot Description
Automatic Gate
Other Buildings
None
Pool Description
None
Heat
Central
Cooling
Central
View
City
Number of Cars in Garage
Community Garage, Covered Parking
Garage Spaces Total
16

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

Courtesy of The Collective Realty, Will Tiao - CA DRE#01918965

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