1414 S Orange DR, Los Angeles, CA 90019
1414 S Orange DR, Los Angeles, CA 90019
1414 S Orange DR, Los Angeles, CA 90019
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,195,000
Est. payment /mo
17 Beds
16 Baths
7,456 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,456 sqft

Price per Sqft $428

MLS Listing ID 26837659

Bedrooms 17

HOA Y/N No

Year Built 2021

Lot Size 7,004 Sqft

Property Description

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, 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 6.22% and a GRM of 12.5, 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.

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, Dryer, Washer

Exterior

Parking Features Door-Multi, Garage, Uncovered

Total Parking Spaces 10

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

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Listed by David Saghian Lyon Stahl Investment Real Estate, Inc. #01992252

NEARBY SCHOOL & BUSINESS

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