409 South Cloverdale Avenue

Los Angeles, CA 90036

$3,275,000
Last Sold Price
9
Beds
8
Baths
7,824 Sq. Ft.
$419 / Sq. Ft.
7,824
Sq. Ft.
$419
per Sq. Ft.

Description

We are pleased to present 409 S. Cloverdale Avenue, a two-story apartment building located in the desirable neighborhood of Miracle Mile, one mile south of MelroseAvenue. Situated on a 8,461 SF lot, the property offers 7,824 rentable SF. The current unit mix consists of seven (7) one-bedroom/one-bathroom units and one (1) two-bedroom/one-bath unit. The property is within close-proximity to The Grove and Pan Pacific Park, giving residents convenient access to an array of popular shopping and dining...We are pleased to present 409 S. Cloverdale Avenue, a two-story apartment building located in the desirable neighborhood of Miracle Mile, one mile south of MelroseAvenue. Situated on a 8,461 SF lot, the property offers 7,824 rentable SF. The current unit mix consists of seven (7) one-bedroom/one-bathroom units and one (1) two-bedroom/one-bath unit. The property is within close-proximity to The Grove and Pan Pacific Park, giving residents convenient access to an array of popular shopping and dining venues.409 S Cloverdale Avenue has been held by current ownership for over 23 years, offering investors the perfect opportunity to purchase an investment property with huge upside potential, which could be achieved through interior and exterior renovations.
  1. Listed by Saadia 'Sam' Liberow • DRE #01933858 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 409 South Cloverdale Avenue

Zoning
LAR4
Parcel Number
5508004009
Total Units
8.0
Living Area
7824
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
5,435
Lot Size Area
8461

Location

Listing Courtesy of Marcus & Millichap, Saadia 'Sam' Liberow, DRE #01933858

Sold By Shokrian Properties, Jason Shokrian, DRE #01047354

Add your commute
LISTING UPDATED: 02/15/2022 11:34 AM

Property Details for 409 South Cloverdale Avenue

StatusSold
MLS #21-110939
Days on Market22
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1931
Lot Size0.19 AC / 8,461 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Saadia 'Sam' Liberow, DRE #01933858

Sold By Shokrian Properties, Jason Shokrian, DRE #01047354

Add your commute

Building Information for 409 South Cloverdale Avenue

Stories2Residences-Year Built1931Building Size-Lot Size0.19 AC / 8,461 SF

Payment Calculator

$21,323 per month

30 year fixed, 7.25% Interest

Principal and Interest

$17,873

Property Taxes

$3,450

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 409 South Cloverdale Avenue

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Standard
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $176,869
  • Net Operating Income: $107,893.00
  • Gross Income: $181,164
  • Cap Rate: 3.29%
  • Gross Rent Multiplier: $18.08
  • Total Annual Expense: 68976
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1942
  • Lot Size Square Feet: 8461
  • Lot Size Dimensions: 65x130
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 6
  • Parking Features: Covered
Interior Features
Interior Features
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-08-2021
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,764.00
  • Unit Actual Rent: $12,348.00
  • Unit Projected Rent: $17,465.00
  • Like Units: 7
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $2,750.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $442,543.00
  • Assessed Improvement Percent: 42.86
  • Assessed Land Value: $590,061.00
  • Assessed Land Percent: 57.14
  • Assessed Total Value: $1,032,604.00

Property History for 409 South Cloverdale Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 409 South Cloverdale Avenue

Taxable ValueLand$2,830,500Additions$510,000Total$3,340,500
Tax Record2023$41,395 ($3,450 / month)
Home Facts
Total Finished SqFt7,824 SqFtAbove Grade Finished SqFt7,824 SqFtLot Size8,461 SqFtStyleMulti-Family Res (5+ Units)Year Built1931ZoningLAR4CountyLOS ANGELESAPN5508-004-009

Schools near 409 South Cloverdale Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 12
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Third Street Elementary School
PublicK to 5

Fairfax Senior High School
Public9 to 12

Melrose Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Saadia 'Sam' Liberow, DRE #01933858

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.