2651 Cloverdale Ave, West Adams
Value Add Fourplex
2651 Cloverdale is a charming 1920's fourplex located steps from the popular West Adams Blvd, offering easy access to trendy shops & restaurants. The property is 75% leased, with one vacant unit, making it an ideal opportunity for owner-occupiers, investors, or fix-and-flippers. With a current 4.83% cap rate and potential to increase to 5.96% once leased at market rents, the property offers solid cash flow and easy management!
The Important
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$1,095,000
Fourplex
Pre-Market
4
1928
4.83%
14.56
$75,216/Year
2,018 sqft
4,806 sqft
$542.62
$273,750
4 x 1b/1b
No
3 Exterior Spaces
Value Add Potential, LARD1.5 Zoning
The Highlights
Delivered with one unit vacant! Very RARE find!
One of the lowest price per door fourplexes you will find in this area: $273,750 per door!
MAJOR UPSIDE! 5.96% projected cap rate once fully leased.
Total monthly income of $6,268, with potential to push to $7,400+!
Easy to rent 1 bedroom, 1 bathroom units!
An ideal candidate for owner-occupiers, cosmetic fix-and-flip investors, or those looking to hold and generate cash flow.
Located just steps from the hottest stretch of West Adams Blvd, your tenants will enjoy easy access to trendy shops, businesses, and restaurants such as Tartine W Adams, Maine W Adams, Farmhouse Kitchen, Alta Adams, Rockwell Lounge, Vicky’s All Day, and The Alsace Hotel, to name a few.
Moments to countless exciting mixed-use developments such as Ivy Station (HBO headquarters), the Cumulus Development (Whole Foods), the Culver Steps (Amazon Studios), and Platform!
Sitting on a 4,808 sq ft LARD1.5 lot, the property also presents the potential for future development.
The Neighborhood
<15-Minute Walk
Midtown Shopping Center, Hollywood Night Market, Planet Fitness, Five Guys, Pacific French Bakery, Spaccio Salumeria, Menchitas, Washington Irving Branch Library, Starbucks, , Roscoe's Chicken and Waffles, Olive Garden, Wingstop, Subway, Jamba Juice
<15-Minute Drive
Sprouts, Starbucks, Target, Westside Boxing Club, Johnny's Pastrami, Pips on La Brea, L.A. Grind Coffee And Tea Bar, Pacific French Bakery, Tartine West Adams, Alta, Mizlala, Delicious Pizza, The Underground Museum, Vees Cafe, Infinity Room, Farmhouse Kitchen
<$15 Uber Ride
Sprouts, Starbucks, Target, Westside Boxing Club, Johnny's Pastrami, Pips on La Brea, L.A. Grind Coffee And Tea Bar, Pacific French Bakery, Tartine West Adams, Alta, Mizlala, Delicious Pizza, The Underground Museum, Vees Cafe, Infinity Room, Farmhouse Kitchen
Contact
Lauren Cearley
213.302.8662
Property Presented By:
