The Liberow Group of Marcus and Millichap is pleased to present 409 S. Cloverdale Avenue, a two-story apartment building located in the desirable neighborhood of Miracle Mile, one mile south of Melrose Avenue.
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.
*First Time on The Market in 23 Years – This property presents the opportunity to immediately unlock the property’s potential by renovating the vacant units and achieving top market rents.
*A+ Miracle Mile Location – Location, location, location! 409 S Cloverdale Ave is in one of the most desirable neighborhoods in Los Angeles, just steps away from Melrose Ave. With a Walk Score of 92, this area is considered a Walker’s Paradise.
*Value-Add Opportunity – Significant upside potential through tenant repositioning and renovation program.
*No Earthquake Seismic Retrofit Required – This property is not on the Los Angeles City soft-story list.