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SOLD 7/8/2021

1371 S Cloverdale Avenue, Los Angeles, CA 90019$2,025,000

11
beds
8
baths
4904
ft2
· 7834
ft2 lot
$438 / ft2

Listing provided courtesy of Listing Broker: Rachel Hsieh, Keller Williams Realty Los Fel
Source CRMLS;
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RARE & EXCELLENT IMMEDIATE OPPORTUNITY. DELIVERED AT 5.6% CAP RATE! 5-Unit Remodeled Spanish-Mediterranean style building in Wilshire/Miracle Mile Area. 3 Units (out of 5) Delivered Vacant or Can be Rented by Close (Buyer's Choice). If fully occupied, it will be 5.6% cap rate, with future pro-forma for 7% cap rate. PRIME LOCATION & DESIRABLE NEIGHBORHOOD. Owner has already completed soft-story retrofit of garage. All 2 and 3 bedroom units. Laundry in units. RENT-READY IMMEDIATELY. New low-e windows, updated roof and copper plumbing. All units are Clean/Remodeled, except for unit 1371 (which will be delivered vacant but needs about $40k improvement budget). Very stable, easy to rent area and building. Parking provided for all units. Plus 4 storage unit single car garages. Near shops and cafes on Pico, Miracle Mile, LACMA, Culver City Art District. RARE OPPORTUNITY - CASH OFFERS AND FINANCED OFFERS OK! SEE DOCSMANAGER FOR OFFERING MEMORANDUM AND RENT ROLLS AND EXPENSE SHEET

HOA

$—/month

On market

a month

Year built

1926

Property type

Multi-Family

Parking

MLS

21727750

Price / Sq.Ft.

$438 / ft2

Status

Closed

Home details for 1371 S Cloverdale Avenue

Interior Features & Layout
Appliances
•   
Laundry Details: Inside
•   
Laundry: 1
Heating & Cooling
•   
Has Heating
•   
Heating Details: Wall Furnace
•   
Cooling Details: Wall/Window Unit(s)
Flooring
•   
Flooring: Wood
Interior Size
•   
Building Area Total: 4904.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Assigned, Tandem Garage, Parking Space
Building Info
•   
Zoning: LARD2
Community Info
•   
Number Of Buildings: 2
•   
Total Units: 5
Lot Info
•   
Lot Size Acres: 0.1700
•   
Lot Size Area: 7834.0000
•   
Lot Size Units: Square Feet
Property Type
•   
Architectural Style: Mediterranean
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 153473.00
•   
Total Expenses: 34075.00
•   
Gross Multiplier: 13.59
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 158220.00
•   
Tax Year: 2020
•   
Taxes: 9528.0
Lease Info
•   
Net Operating Income: 119398.00
Listing Info
•   
Status: Closed
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 2
•   
Unit 3 Actual Rent: 3000.00
•   
Unit 3 Total Units: 1
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Bathrooms: 1
•   
Unit 3 Total Rent: 0.00
Unit 2 Information
•   
Unit 2 Actual Rent: 3000.00
•   
Unit 2 Bedrooms: 2
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 2
•   
Unit 2 Total Rent: 3000.00
Unit 1 Information
•   
Unit 1 Bedrooms: 3
•   
Unit 1 Total Units: 1
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 2
•   
Unit 1 Actual Rent: 3300.00
•   
Unit 1 Total Rent: 3300.00
Unit 4 Information
•   
Unit 4 Actual Rent: 2344.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 2344.00
•   
Unit 4 Bathrooms: 2
•   
Unit 4 Bedrooms: 2
Unit 5 Information
•   
Unit 5 Actual Rent: 1541.00
•   
Unit 5 Total Units: 1
•   
Unit 5 Furnished Units: Unfurnished
•   
Unit 5 Total Rent: 1541.00
•   
Unit 5 Bathrooms: 1
•   
Unit 5 Bedrooms: 2
Multi Unit Information
•   
# Of Units: 13
School Neighborhood & Directions
School Info
•   
Directions: North of Pico Blvd, West of LaBrea. In Wilshire Highlands Subdivision
Virtual Tour Link
Virtual Tour
•   
Virtual Tour Url Unbranded
Other
Calculation
•   
Dom: 41
•   
Cdom: 41

Neighborhood snapshot

85
Properties for sale
12
Median days on market
$585.08
Median sold price/sqft
100.30%
Sold/List %
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Property History for 1371 S Cloverdale Avenue

07/08/2021
07/08/2021
Public Record
sold
Public Record
$2,025,000
--5.81%
07/08/2021
07/08/2021
CRMLS #21727750
sold
CRMLS #21727750
$2,150,000
06/14/2021
06/14/2021
CRMLS #21727750
pending
CRMLS #21727750
$2,150,000
05/04/2021
05/04/2021
CRMLS #21727750
active
CRMLS #21727750
$2,150,000
+258.33%
10/29/2009
10/29/2009
Public Record
sold
Public Record
$600,000

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