1414 S Orange Drive,Los Angeles, CA 90019
Los Angeles, CA 90019
Description
MOTIVATED SELLER! We are pleased to present 1414 S Orange Drive, a brand new 2021 construction 5 unit multifamily property located in the heart of prime Mid City, Los Angeles. Situated on a 7,002 square foot LARD1.5 zoned lot with 7,456 square feet of improvements across three buildings, this nasset offers an ideal high income unit mix consisting of two 4 bedroom 4.5 bathroom units, one 3 bedroom 3.5 bathroom unit, and two 3 bedroom 2 bathroom units. Each residence is thoughtfully designed with open concept layouts, high ceilings, large kitchen islands or peninsulas, premium stainless steel appliances, sleek white bathrooms with marble finishes, in unit laundry rooms with washers and dryers included, and modern high end fixtures throughout. All five units are fully leased bringing in $21,558/month with upside as well, reflecting strong rental demand in this highly walkable Mid City location with a Walk Score of 85. Offered at $3,195,000, the property presents a real cap rate of 6.31% and a GRM of 12.35, equating to $639,000 per unit and $429 per square foot, making it one of the best priced new construction 5 unit assets in the submarket. Tenants pay all utilities, and the property is separately metered for gas, electric, and water with five meters for each, significantly reducing operating expenses and increasing net operating income. The building features five tandem garages plus five additional exterior parking spaces, providing ample parking for residents.Located just minutes from trendy restaurants, cafes, retail, and entertainment, 1414 S Orange Drive represents an exceptional 1031 exchange opportunity and a rare chance to acquire a low maintenance, high yield investment in one of Los Angeles' most desirable rental corridors. Building is RSO. Buyer to verify all information.
Details
| MLS # | 26837659 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 2021 |
| Days On Site | 95 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | David Saghian |
Features
| Bed(s) | 17 |
|---|---|
| Bath(s) | 16 |
| SQ Feet | 7,456 |
| Story(s) | 3 |
| Units | 5 |
| Building(s) | 3 |
| Zoning | LARD1.5 |
| Acreage | 0.16 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Dishwasher, Microwave, Dryer, Washer |
Parking
| Parking Features | Door Multi, Garage, Uncovered |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90019 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90019) | |
Price: $3,195,000 low | high Med: $1,760,000 sqft: 7,456 low | high Med: 4,075 $ / sqft: $429 low | high Med: $437 On site: 95 low | high Med: 84.5 | |
Market Activity 90019
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90019 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90019) | |
Price: $3,195,000 low | high Med: $1,760,000 sqft: 7,456 low | high Med: 4,075 $ / sqft: $429 low | high Med: $437 On site: 95 low | high Med: 84.5 | |
