Active

2301 S Cloverdale Avenue

Los Angeles CA, 90016

$5,750,000


$550.56 per sqft

Active

30 Beds

35 Baths

10,444 sqft

Residential

Built in 2019

Listed by Will Tiao with The Collective Realty 323-363-1096

MAJOR PRICE ADJUSTMENT! SELLER EXTREMELY MOTIVATED! BRING ALL OFFERS! This contemporary building in Mid-City Los Angeles, constructed in 2019, is non-LA rent controlled and boasts 5 upscale vertical townhouses, each designed with modern architecture that harmonizes style and functionality. Each unit features a spacious layout, including 6 bedrooms and 6.5 bathrooms, complete with elegant hardwood floors and thoughtfully designed interiors that showcase three levels of luxurious suites, each equipped with designer bathrooms and ample closet space. The entry level welcomes residents and guests with a generous living room, complemented by a guest bath and a chef's kitchen adorned with slab countertops and high-end stainless steel appliances ideal for entertaining. Additional building highlights include a secure gated entry, an inviting outdoor community courtyard, and 16 gated parking spaces. The property is pet-friendly, making it an attractive option for a diverse range of tenants. This prime location in Mid City LA offers easy access to vibrant local amenities and transportation options including the 10, 405, 110 freeways and E and K metro Line. The property currently has a solid 13.31 GRM and 5.7% cap rate despite having one vacancy. Fully occupied, the property has the potential to generate a gross income of $537k/year equating to an unheard of pro forma GRM of 10.71 and 7.55% cap rate. There are plans to add an additional 1bd/1ba ADU that could add additional income. Seller has priced this aggressively. Tours can be scheduled of the vacant unit with listing agents. Contact us soon before it goes!

24457063

MLS ID

October 25, 2024

Listed

December 19, 2024

Updated

Map

2301 S Cloverdale Avenue
Los Angeles CA, 90016

Interior Features

Total Stories

0


Bedrooms

30


Total Bathrooms

35


Appliances

Microwave, Refrigerator, Dryer, Washer


Floor Description

Laminate, Wood


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.23 Acres


Architectual Style

Contemporary

Other Property Details

Area Name

C16 - Mid Los Angeles


Days on Market

54


Garage

Yes


Garage Spaces

16


Parking

Covered, Community Structure


Parking Total

16


View

Yes


View Description

City Lights


County

Los Angeles


Pool

No


Pool Features

None


Zoning

LARD2

Listing History

Date

Event

Price

12/17/2024

Price change

$5,750,000

-5%

Listing Contact: 310-569-1335 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/19/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 12/19/2024 at 5:27 AM UTC

 

Powered byLuxury Presence