Institutional Property Advisors (“IPA”), as the exclusive listing agent, is pleased to present the opportunity to acquire Clover on Carlton (the “Property”), a 24-unit multifamily community located in the Hollywood submarket of Los Angeles.
Originally constructed in 1964, current ownership has spent $479K on capital expenditures to completely transform the property. Many of the Property’s mechanical systems and building improvements have been addressed which allows investors to focus almost entirely on high return on investment interior renovations moving forward.
13 of the 24 unit interiors (54%) have been extensively renovated, including new cabinetry, new stainless-steel appliances, plank vinyl flooring, quartz countertops, backsplash, new dual-pane windows, recessed LED lighting fixtures, upgraded plumbing fixtures and in-unit washers and dryers. Investors will have the opportunity to follow this proven interior renovation strategy in the remaining 11 units (46%) and capture 29%+ upside in rental income.
OFFERED CONCURRENTLY WITH BLU ON BURNS (28 UNITS IN SILVER LAKE). OPPORTUNITY TO PURCHASE INDIVIDUALLY OR TOGETHER.