$5,750,000
- Beds
- 30
- sq ft
- 10,444
2301 S Cloverdale Ave, Los Angeles, CA 90016
2301 S Cloverdale Ave
Los Angeles, CA 90016
- 56 days on market
- Price drop $245,000↓
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!
Details
Property type
Property condition
New Construction
Lot size
0.2315 acres
Price per sq ft
$551
Year built
2019
HOA
No
Price History
12/17/2024
CLAW #24457063
Price change
$5,750,000
-4.09%
10/25/2024
CLAW #24457063
Listed
$5,995,000
+658.86%
09/27/2016
CLAW #16154810
Sold
$790,000
Schools & Community
Neighborhood:
Mid City
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Gated
Community features:
Gated
Status: Active
Tomo last checked: 12/25/2024 at 11:30 AM
Listing updated: 12/18/2024 at 5:05 PM
Listed by: Will Tiao, The Collective Realty Phone #: (310) 569-1335
MLS: CLAW #24457063
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