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626 S Cloverdale Ave 8 Unit Apartment Building $3,170,657 CAD ($396,332 CAD/Unit) 5.50% Cap Rate Los Angeles, CA 90036
EXECUTIVE SUMMARY
$200,000 Price Reduction!!! JRM Properties is pleased to present 626 S Cloverdale Avenue, a two story 1929 built Art Deco apartment building centrally located in the Miracle Mile neighborhood. Situated on a 7802 sq ft lot, property offers (8) spacious 1 Bedroom 1 Bedroom. All Units have original charm, original hardwood Flooring, sconces, Spanish tile in bathroom. The Property is in close proximity to Beverly Hills, Parks, outdoor shopping, Wilshire night life, dining venues, and near the new Metro station on Wilshire. Potential to build more units in back with SB 1211. Delivered with 2 vacancies. Laundry room offers additional income. Tremendous Pride of Ownership from current Ownership. Great Opportunity to purchase an apartment building in a great location and with Upside. Please call listing agent with any questions. Please do not walk property without listing agent. Please do not disturb tenants.
PROPERTY FACTS
| Price | $3,170,657 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $396,332 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5.50% | Building Size | 6,682 SF |
| Gross Rent Multiplier | 11.85 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1928 |
| Property Type | Multifamily | Parking Ratio | 1.2/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4 | ||
| Price | $3,170,657 CAD |
| Price Per Unit | $396,332 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 11.85 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 6,682 SF |
| No. Stories | 2 |
| Year Built | 1928 |
| Parking Ratio | 1.2/1,000 SF |
| Zoning | R4 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 835 |
1 1
Walk Score®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 5508-008-018 | Improvements Assessment | $1,407,191 CAD |
| Land Assessment | $1,035,969 CAD | Total Assessment | $2,443,160 CAD |
PROPERTY TAXES
Parcel Number
5508-008-018
Land Assessment
$1,035,969 CAD
Improvements Assessment
$1,407,191 CAD
Total Assessment
$2,443,160 CAD
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JRM Properties
626 S Cloverdale Ave
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