Property Details


Year Built: 1928
Units: 4
Price / Unit: $443,750
Price / SqFt: $443
CAP: 3.63%
GRM: 16.39

Executive Summary


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1357 Cloverdale Ave is a true turn-key investment opportunity to purchase a well maintained 4-unit apartment building in the heart of Mid-Wilshire, just off Pico Blvd between S. La Brea Ave and S Fairfax Ave. The building totals 4,006 SF and features a unit mix of two one-bedrooms (1,100SF) and two two-bedrooms (1,100SF) with in-suite laundry, the majority have been updated with wood flooring, lighting, and new appliances. The two garden level units feature a private front yard area. Additionally, the property features a community garden and outdoor lounge area.

Strong in-place rental income provides stable current cash flow to an investor with additional upside over 22% achievable through further interior unit renovations such as recessed lighting and upgraded kitchens and bathrooms. The property is being offered with minimal deferred maintenance required and all units are separately metered for gas and electricity. Unique to this listing are the four dedicated garages units for each tenant with room for eight tandem parking spaces

1357 Cloverdale Ave has a high Walk Score of 92, close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. Mid Wilshire is one of the best neighborhoods in Los Angeles to live, with about 49,468 people. Living in Mid-Wilshire offers residents an urban feel and most residents rent their homes. In Mid-Wilshire there are a lot of restaurants, coffee shops, and parks which attract young professionals to make this neighborhood their home.

Area Overview

Mid-Wilshire

Centered on the iconic Miracle Mile shopping district – is home to the Los Angeles County Museum of Art, the Petersen Automotive Museum, the Academy Museum of Motion Pictures, the La Brea Tar Pits, and more. Neighborhoods within this area include Little Ethiopia, Park La Brea, Oxford Square, Park Mile, Sycamore Square and The Grove. 

Mid Wilshire is one of the best neighborhoods in Los Angeles to live, with about 49,468 people. Living in Mid-Wilshire offers residents an urban feel and most residents rent their homes. In Mid-Wilshire there are a lot of restaurants, coffee shops, and parks. The tree-lined streets and quiet streets lure many young professionals to make Mid-Wilshire their home. 

Wilshire Vista

The Wilshire Vista area of Los Angeles dates to the 1920s. It is part of Los Angeles history as much as it is surrounded by LA’s history. Just to the West, Wilshire Vista West has been designated as a Historic District and is on the National Register of Historic Places and the California Register of Historical Resources. The district is comprised of single and multi-family homes, dating to the 1920s through the 1940s. Once you enter this tree-lined district with its beautiful architecture, you will understand why it is now a Historic District

Even though this area sits in the middle of urban Los Angeles, it is uniquely quiet and residential with a diverse population and a strong sense of community. Its diversity adds to its appeal, vibrance and eclectic shops and restaurants. Its proximity also makes it a desirous location. Within minutes, you can be in downtown LA, LACMA, Pico-Robertson, Koreatown and La Brea Tarpits

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