1414 Orange Dr, Los Angeles, CA 90019
5 Unit Apartment Building | $3,750,000 ($750,000/Unit) | 5.02% Cap Rate | Los Angeles, CA 90019
For Sale
Active
36 pictures
Asking Price $3,750,000
- Property Type
-
Multifamily
- Square Feet
- 7,002 SF
Listing Contacts
Jake Glaser
Property Overview
The Glaser Group is pleased to present 1414 S Orange Dr, a fantastic 5-unit investment property located in Mid City in Los Angeles, CA. This beautiful new construction cash-flowing property sits on a 0.16-acre lot with over $141,000 in capital improvements added in the past year. Some of the recent improvements include EV charging stations, nest thermostats, private yards and a new private fence line, enclosed garages, eco-friendly irrigation systems, brand-new LG washer/dryers, sliding glass doors, and beautifully designed landscaping. This property is being offered well below its previous sale price due to unforeseen circumstances from current ownership, providing a fantastic opportunity for a new buyer. The property features 5 spacious units and 7,002 square feet of living area in total. The property features (1) 3 bed 3.5 bath unit, (2) 4 bed 4.5 bath units, and (2) 3 bed 2 bath units across three separate structures. All of the units have been extensively upgraded and rented at market to strong tenants. 1414 S Orange Dr, nestled in a prime pocket of Mid-City, offers strong Day 1 cash flow operating at 5.02% Cap Rate and 14.21 GRM.
Mid-City, Los Angeles, presents a compelling opportunity for apartment investors, particularly those interested in new construction properties. This neighborhood is a nexus of cultural vibrancy and urban convenience, making it highly attractive to a diverse tenant base. With renowned attractions like LACMA and the Petersen Automotive Museum, Mid City offers residents a rich tapestry of activities. The rental market here is robust, driven by steady population growth and a strong demand for modern living spaces that cater to the lifestyle preferences of urban professionals and families alike. The forecast for Mid-City is optimistic, with projections indicating continued growth in both the resident population and rental rates. This positive trajectory, coupled with the area's accessibility to public transportation and Los Angeles' major employment hubs, positions Mid-City as an ideal locale for investment in the burgeoning Los Angeles real estate market.
Spencer Chan (310) 259-2181 | [email protected]
Mid-City, Los Angeles, presents a compelling opportunity for apartment investors, particularly those interested in new construction properties. This neighborhood is a nexus of cultural vibrancy and urban convenience, making it highly attractive to a diverse tenant base. With renowned attractions like LACMA and the Petersen Automotive Museum, Mid City offers residents a rich tapestry of activities. The rental market here is robust, driven by steady population growth and a strong demand for modern living spaces that cater to the lifestyle preferences of urban professionals and families alike. The forecast for Mid-City is optimistic, with projections indicating continued growth in both the resident population and rental rates. This positive trajectory, coupled with the area's accessibility to public transportation and Los Angeles' major employment hubs, positions Mid-City as an ideal locale for investment in the burgeoning Los Angeles real estate market.
Spencer Chan (310) 259-2181 | [email protected]
Property Details
- Class
- C
- Year Built
- 2022
- Stories
- 3
- Lot Size (sq. ft)
- 9,148 SF
- Units
- 5
Highlights
- Appraised for $4,050,000 in February 2023. $300,000 more than offering price.
- Not subject to state or local rent control; very low expense load to ownership
- Spacious mix of (2) 4+4.5, (2) 3+2, and (1) 3+3.5 unit(s)
- Newly graded concrete, EV charging, LG brand W/D, Nest Thermostats, eco-friendly landscaping, enclosed garages, privacy upgrades
- Solid Mid-City location, in a high development area; thoughtfully deisgned to maximize privacy
- Beautiful 5-Unit property built in 2022; $141,000 of recent capital improvements
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