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$ 3,499,000
Est. payment /mo
Price Dropped by $51K
1414 S Orange DR Los Angeles, CA 90019
17 Beds
16 Baths
7,456 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,456 sqft
Price per Sqft $469
MLS Listing ID 26660309
Bedrooms 17
HOA Y/N No
Year Built 2021
Lot Size 7,004 Sqft
Property Description
MOTIVATED SELLER *** We are pleased to present 1414 S Orange Drive, a newly constructed 2021 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 asset 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 features open concept layouts, high ceilings, large kitchen islands or peninsulas, premium stainless steel appliances, sleek bathrooms with marble finishes, in unit laundry, and modern high end finishes throughout. All five units are fully leased, reflecting strong tenant demand in this highly walkable Mid City location with a Walk Score of 85. Offered at $3,499,000, the property presents a 5.7% cap rate and 13.69 GRM, equating to $700,000 per unit and $469 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, significantly reducing operating expenses and increasing net income.The property also features five tandem garages and five additional exterior parking spaces, providing ample parking for residents.Located just minutes from popular restaurants, retail, and entertainment, this is an exceptional 1031 exchange opportunity and a rare chance to acquire a low maintenance, high yield asset in one of Los Angeles' strongest rental corridors.Buyer to verify all information.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Microwave, Refrigerator, Dryer, Washer
Laundry Stacked
Exterior
Parking Features Door-Single, Garage, Uncovered
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5070018007
Special Listing Condition Standard
Listed by David Saghian Lyon Stahl Investment Real Estate, Inc. #01992252
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