1257 S Cloverdale Ave - Apartments FOR SALE


Los Angeles, CA 90019- Mid-City
$2,175,000 USD
818-448-4415
1257 S Cloverdale Ave, Los Angeles, CA for Sale
$2,175,000 USD
Apartments - FOR SALE
1/17
null | 5.83% Cap Rate

1257 S Cloverdale Ave
Los Angeles, CA 90019
Mid-City


HIGHLIGHTS

  • One (1) Unit Will Be Delivered Vacant
  • All Units Extensively Renovated with Stainless Steel Appliances, Central HVAC, In-Unit Washer/Dryer, Hardwood Floors Throughout, and Modern Finishes
  • Major Capital Improvements such as a New Roof, Electrical, and Plumbing
  • On-Site Garage Parking in the Rear - Great Opportunity to Convert into ADUs
  • Excellent Owner-User Opportunity
  • Rare Turnkey Mid-City Asset

OVERVIEW

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 1257 S Cloverdale Ave in Los Angeles, California. The subject property is located in a prime Mid-City location, just south of San Vicente Blvd and west of La Brea Ave. Located in the heart of Mid-City, this rare turnkey fourplex offers an excellent unit mix of two one-bedroom units, one two-bedroom unit, and one three-bedroom unit, which will be delivered vacant, creating an ideal owner-user opportunity. The property has had major capital improvements such as a new roof, electrical, and plumbing. In addition, the property has been extensively renovated with stainless steel appliances, central HVAC, in-unit washer and dryers, hardwood flooring, quartz countertops, and modern finishes throughout. Separately metered for gas and electricity, the asset also features rear garage parking with potential for future ADU conversion. Residents benefit from immediate access to the 10 Freeway, the Metro D Line, major commercial corridors, Midtown Shopping Center, and numerous dining, retail, fitness, and entertainment destinations throughout the surrounding neighborhood. Rarely does a Mid-City asset combine turnkey condition, owner-user appeal, future development potential, and an irreplaceable central location, making this an outstanding opportunity to acquire a high-quality multifamily investment in one of Los Angeles’ most desirable rental markets. For OM, please visit: https://www.lamultifamilydeals.com/active-listings/1257-s-cloverdale-ave

FOR SALE DETAILS

PRICE

$2,175,000 USD

PRICE/SF

$445 USD /SF

# OF UNITS

4

PRICE/UNIT

$543,750

CAP RATE

5.83%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1938

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,907 SF

ZONING

LARD2

APN/PARCEL ID

5070-010-002

ASK ABOUT THIS PROPERTY

Jason TuviaMarcus & MillichapMore Info
818-448-4415

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Jason TuviaMarcus & MillichapMore Info
818-448-4415

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.