Active
$1,800,000
18%
3 Units
3 Beds
3 Baths
2,459 Area(sq.ft.)
Lot: 2,896 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 3,000 | $ 3,000 | $ 3,000 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,695 | $ 2,695 | $ 3,000 |
| Unit 3 | 1 | 1 | 1 | No | $ 3,495 | $ 3,495 | $ 3,500 |
| 3 | 3 | 3 | $ 9,190 | $ 9,190 | $ 9,500 |
| MLS #: | 25510725 |
| Days On Market: | 269 |
| Listing Date: | March 12, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 732 |
| Price per unit: | $ 600,000 |
| Year Built: | 1948 |
Property Details
Unit A to be Delivered VACANT... 1423 Cloverfield Ave is a majorly renovated triplex located in the Mid City neighborhood in prime Santa Monica. This turnkey triplex features three large 1-bed / 1-bath units, including a downstairs 1-bed unit that opens up to a serene and private backyard. The dining area of the downstairs unit can also be easily converted into a temporary 2nd bedroom. One of the upstairs 1-bedroom units will be delivered VACANT, providing the perfect owner-user opportunity. All of the units have newer stainless-steel appliances, washer/dryer and air conditioning. The units are also all individually metered for all utilities, including gas, water & electric. There are (2) single-car garages plus a gated parking spot behind the building.There is also strong potential to convert the garages into an attached ~300 SF ADU (Buyer to verify with City of Santa Monica). The property is in close proximity to Schader Park, the Santa Monica Water Garden Park, Bay Club Gym, the LA Metro (26th/Bergamot Station), Ralphs and Whole Foods Market, restaurants, coffee shops, CVS, and more. Photos of the downstairs unit and one upstairs unit are provided.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 106,972 |
| Total Annual Expense: | $ 32,272 |
| Net Operating Income: | $ 74,700 |
| Gross Annual Income: | $ 110,280 |
| Cap Rate: | 4.15% |
| Gross Rent Multiplier: | 16.32 |
Structure
| Type of Units: | 1+1,1+1 |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Covered Parking |
Interior
| AC/Cooling: | Air Conditioning |
| Equipment: | None |
| Heating: | Central |
Exterior
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