5 Units

Once a dirt path for Spanish Rancheros, Wilshire Boulevard has played an important role in LA’s History. Developer A. W. Ross pioneered an automobile friendly commercial district that became known as Miracle Mile after its improbable success. Today, the Miracle Mile neighborhood thrives with its diversity, culture, and entertainment. The area is best known for the strip of Wilshire Blvd known as Museum Row, which is full of LA’s best museums, restaurants, bars, and shops. It contains attractions such as LACMA, Petersen Automotive Museum, La Brea Tar Pits, and much more. The area is one of the most sought-after rental markets in Los Angeles County, attracting a diverse tenant base looking to live in this well-known and centralized part of town. It is located along four major thoroughfares, including Olympic, Hauser, San Vicente, and Venice Boulevards. The neighborhood is conveniently located close to other major LA communities such as Hollywood, Koreatown, Culver City, and Downtown. As one of LA’s most densely populated areas, it is becoming increasingly pedestrian friendly with bike lanes and crosswalks, as well as the Metro expected to reach the area in 2023.The property consists of five units, built in 1940, situated on an 8,135 square foot lot zoned R3-1HPOZ, with two separate structures totaling 6,102 square feet. Frontage is on Cloverdale Ave and 12th Street, and the property is one block from San Vicente Blvd. The front building is a two-story walk-up style layout with two large (1,400 to 1,600 +/- SF) townhome style units with patios. One unit has four-bedrooms and three-bathrooms, and the other has three-bedrooms and two-bathrooms. The rear building has three one-bedroom, one-bathroom units over two 2-car garages and a large laundry room. The property is individually metered for gas and electric and landlord pays water and sewer.