660 S Cloverdale Avenue

    Los Angeles (City), CA 90036
    • $5,675,000
    • STATUS: Active
    • ON SITE: 30 days
    • ID#: 20562230
    UPDATED: 42 min ago
    $5,675,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Ratings & Info

    Description

    Charming and well-maintained 20-unit investment opportunity in prime Miracle Mile, one of the most desirable submarkets of Los Angeles. The property has undergone interior and exterior renovations, while offering the opportunity to add value through additional renovations. The Property features 20 well-designed studio units, which are the most coveted unit type for Los Angeles' urban renter pool. 10 out of the 20 units have been extensively renovated with high-end finishes which include new stainless-steel appliances, quartz countertops, laminate and tile flooring, new kitchen cabinets and tile backsplashes, new fixtures, new paint, and A/C units, and 4 of the units have been partially renovated. The Property is a Walker's Paradise, conveniently located amongst nearby amenities including famous restaurants, trendy bars, shopping, hotels, entertainment venues, museums and local transportation. Tenants a 4-minute walk to upcoming Metro's Purple Line at Wilshire/La Brea station.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-09T22:33:54.503. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

    www.sellinglasouthbay.com/homes/103989387

    660 S Cloverdale Avenue Los Angeles (City), CA 90036

    • Price: $5,675,000
    • Status: Active
    • Updated: 42 min ago
    • ID#: 20562230
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    1927
    Built
    Neighborhood:
    C19 - Beverly Center-Miracle Mile
    County:
    Los Angeles
    Area:
    C19 - Beverly Center-Miracle Mile
    Property Description
    Charming and well-maintained 20-unit investment opportunity in prime Miracle Mile, one of the most desirable submarkets of Los Angeles. The property has undergone interior and exterior renovations, while offering the opportunity to add value through additional renovations. The Property features 20 well-designed studio units, which are the most coveted unit type for Los Angeles' urban renter pool. 10 out of the 20 units have been extensively renovated with high-end finishes which include new stainless-steel appliances, quartz countertops, laminate and tile flooring, new kitchen cabinets and tile backsplashes, new fixtures, new paint, and A/C units, and 4 of the units have been partially renovated. The Property is a Walker's Paradise, conveniently located amongst nearby amenities including famous restaurants, trendy bars, shopping, hotels, entertainment venues, museums and local transportation. Tenants a 4-minute walk to upcoming Metro's Purple Line at Wilshire/La Brea station.
    Exterior Features

    Lot Size Units Square Feet Parking Features None Parking YN No

    Interior Features

    Appliances DishwasherDisposalMicrowaveRefrigerator Appliances YN Yes Heating Wall Furnace Heating YN Yes

    Property Features

    Gross Income 375391.00 Gross Multiplier 15.12 Gross Operating Income 364129.00 Net Operating Income 248529.00 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 3.00 Zoning Lac2

    Listing provided courtesy of Janet Neman of Kidder Mathews Of California, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-09T22:33:54.503. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

     
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