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1414 Orange Drive, Los Angeles, CA 90019
Priced at Only: $3,499,000
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Address: 1414 Orange Drive, Los Angeles, CA 90019
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  • MLS#: 26660309 ( )
  • Street Address: 1414 Orange Drive
  • Viewed: 4
  • Price: $3,499,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 2022
  • Bldg sqft: 0
  • Days On Market: 37
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90019
  • Provided by: Lyon Stahl Investment Real Estate, Inc.
  • Contact: David David
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    MOTIVATED SELLER *** We are pleased to present 1414 S Orange Drive, a newly constructed 2022 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.
Features
Appliances
  1. Microwave
  2. Refrigerator
  3. Dishwasher
Building Area Total
  1. 7456.00
Cooling
  1. Central Air
Country
  1. US
Heating
  1. Central
Laundry Features
  1. Stackable
  2. Washer Included
  3. Dryer Included
Levels
  1. Multi/Split
Netoperatingincome
  1. 199594.00
Parcel Number
  1. 5070018007
Parking Features
  1. Garage - Single Door
  2. Uncovered
Postalcodeplus4
  1. 4122
Sourcesystemkey
  1. 26660309:CLAW
Totalexpenses
  1. 48338.00
Year Built
  1. 2022
Year Built Source
  1. Seller
Zoning
  1. LARD1.5
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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