2301 S Cloverdale Avenue

Los Angeles, CA 90016

PRICE REDUCED

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-$245,000 (-4.09%)

$5,750,000

List Price

30

bed Beds

35

shower Baths

10,444 sqft

straighten / sqft

2019

calendar_month Built

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!

Listing Information

List Price $5,750,000
Status Active
MLS 24457063
Type Residential Income
Year Built 2019
Lot Size 10,083
Structure Size 10,444
DOM 54
Courtesy Of The Collective Realty
Listing Agent Will Tiao DRE#01918965
Co-Listing Agent Ken Dennis DRE#02097826

Interior Features

Total Bedroom
Bedrooms 30
Total Bathroom
Bathrooms 35
Flooring Information
Material Laminate, Wood
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Will Tiao, Ken Dennis, The Collective Realty 323-363-1096. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 19th, 2024 at 1:04 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.