Active

2301 S Cloverdale Ave

Los Angeles CA, 90016

$5,750,000


$550.56 per sqft

Active

30 Beds

35 Baths

10,444 sqft

Multi-family

Built in 2019

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!

24-457063

MLS ID

October 30, 2024

Listed

December 19, 2024

Updated

Map

2301 S Cloverdale Ave
Los Angeles CA, 90016

Interior Features

Total Stories

0


Bedrooms

30


Total Bathrooms

35


Interior Features

Common Walls


Appliances

Range/Oven, Refrigerator, Microwave, Dryer, Washer


Laundry Description

In Unit, In Living Room


Floor Description

Laminate, Hardwood


Fireplace

No


Cooling

Yes


Cooling Description

Central


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.23 Acres


Lot Features

Automatic Gate


Architectual Style

Contemporary

Other Property Details

Area Name

Mid Los Angeles


Days on Market

54


Association Amenities

Gated Parking


Garage

Yes


Garage Spaces

16


Parking

Community Garage, Covered Parking


Parking Total

16


View

Yes


View Description

City


County

Los Angeles


Pool

No


Pool Features

None


Zoning

LARD2

Listing History

Date

Event

Price

12/16/2024

Price change

$5,750,000

-5%

Listed by Will Tiao with The Collective Realty
Listing Contact: 323-363-1096 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Janin Paine | CA DRE# 00926341 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 12/19/2024

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