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1443 S Cloverdale Ave

Los Angeles, CA 90019
  • $6,000,000
  • STATUS: Active Under Contract
  • ON SITE: 239 Days
  • MLS #: 21-697094
Under Contract
UPDATED: 52 min ago
$6,000,000
  • 31
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 12,721
    SQFT
  • $472
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

Description

Reduced 750k! Once in a lifetime 100% Vacant 15 Units + 4 ADUs in Prime Mid City priced at only 349k/door for vacant units. Value add opportunity with a huge upside to 7.5% Cap Rate and 10.6 GRM after renovations. Excellent location minutes from Beverly Hills, Culver City, and West Adams. Potential to create 2 detached 1,200 SF 3 Bed 3 Bath ADUs & 2 attached 400 SF 1 Bed 1 Bath ADUs. Please see Financials & Preliminary ADU Plans in the Docs section. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs. Individually metered for Gas & Electricity.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-21T10:42:39.063. 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.jelmbergteam.com/homes/114472605
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1443 S Cloverdale Ave Los Angeles, CA 90019

  • Price: $6,000,000
  • Status: Active Under Contract
  • Updated: 52 min ago
  • MLS #: 21-697094
31
Beds
0
Baths
0
½ Baths
0.16
Acres
12,721
SQFT
$472
$/SQFT
1963
Built
Neighborhood:
Mid Los Angeles
County:
Los Angeles
Area:
Mid Los Angeles
Property Description
Reduced 750k! Once in a lifetime 100% Vacant 15 Units + 4 ADUs in Prime Mid City priced at only 349k/door for vacant units. Value add opportunity with a huge upside to 7.5% Cap Rate and 10.6 GRM after renovations. Excellent location minutes from Beverly Hills, Culver City, and West Adams. Potential to create 2 detached 1,200 SF 3 Bed 3 Bath ADUs & 2 attached 400 SF 1 Bed 1 Bath ADUs. Please see Financials & Preliminary ADU Plans in the Docs section. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs. Individually metered for Gas & Electricity.
Exterior Features

Lot Size Area 13699 Other Structures None Parking Garage Carport Total Parking 4

Interior Features

Baths Total 25.00 Cooling Wall Unit(S) Equipment Refrigerator Heating Wall Gas

Property Features

Assessed Total Value 1194806 Gross Income 626280 Gross Operating Income 607492 Like Units1 2 Like Units2 8 Like Units3 6 Like Units4 2 Like Units5 1 Net Operating Income 493967.00 Number Of Buildings 1 Number Of Units 19 Sale Type Standard Source Living Area Owner Source Lot Size Area Owner Total Annual Expense 109324 Type Of Units Low Rise Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Armin Soleimani DRE#01846872 of Global Platinum Properties, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-21T10:42:39.063. 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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