356 Orange Grove Ave, Los Angeles, CA 90036
16 Unit Apartment Building | $5,750,000 ($359,375/Unit) | 4.35% Cap Rate | Los Angeles, CA 90036
For Sale
Active
30 pictures
Asking Price $5,750,000
- Property Type
-
Multifamily
- Square Feet
- 6,142 SF
Listing Contacts
Sam Liberow
Property Overview
First Time on Market in 50+ Years
The Orange Grove Portfolio represents an extraordinary opportunity to purchase assets that haven't been available for sale in over 50 years! It's a one-of-a-kind chance that will allow the astute investor to purchase 3 contiguous parcels located within a highly desirable sub-market characterized by affluent demographics and substantial barriers to entry.
Exit Optionality
Since these are three separate properties, on three separate parcels, a buyer will be able to avoid paying additional transfer taxes due to Measure ULA. This strategy will save the buyer approximately $260,000 should they decide to sell in the future after they turn the units. Buyer to verify.
No On-Site Manager Required
Given that the portfolio is situated on three separate parcels, there is no need for an on-site manager, even though the portfolio boasts 16 units. This saves the buyer a substantial amount of money since a traditional outside management company can manage all three properties with ease.
Development Potential
This expansive 19,201 square-foot property, spread across three contiguous parcels, represents an exceptional investment opportunity with its LAR3 zoning providing a solid foundation for various residential development projects. Additionally, its Tier 3 classification within the Transit Oriented Communities (TOC) program offers strategic benefits, including density bonuses, height incentives, and potential parking reductions, making it an ideal canvas for high-value multi-unit housing or innovative urban developments. Per our calculations, a buyer can build up to twenty-eight (28) units (buyer to verify).
Central Location
These apartment buildings are in the heart of the Fairfax District, an “A+” rental market under constant demand by high-income young professionals. This location offers tenants excellent proximity to some of Los Angeles' finest attractions, such as the Museum of Contemporary Art, Pacific Design Center, famed Sunset Strip, Runyon Canyon, The Grove, and Beverly Center.
Excellent Walkability
This prime location is adjacent and has easy access to the Cities of Beverly Hills and West Hollywood and is considered a Walker’s Paradise with a Walk Score of 96. Additionally, residents at this property are walking distance to the best part of The Grove with many places for dining, shopping, and entertainment.
The Orange Grove Portfolio represents an extraordinary opportunity to purchase assets that haven't been available for sale in over 50 years! It's a one-of-a-kind chance that will allow the astute investor to purchase 3 contiguous parcels located within a highly desirable sub-market characterized by affluent demographics and substantial barriers to entry.
Exit Optionality
Since these are three separate properties, on three separate parcels, a buyer will be able to avoid paying additional transfer taxes due to Measure ULA. This strategy will save the buyer approximately $260,000 should they decide to sell in the future after they turn the units. Buyer to verify.
No On-Site Manager Required
Given that the portfolio is situated on three separate parcels, there is no need for an on-site manager, even though the portfolio boasts 16 units. This saves the buyer a substantial amount of money since a traditional outside management company can manage all three properties with ease.
Development Potential
This expansive 19,201 square-foot property, spread across three contiguous parcels, represents an exceptional investment opportunity with its LAR3 zoning providing a solid foundation for various residential development projects. Additionally, its Tier 3 classification within the Transit Oriented Communities (TOC) program offers strategic benefits, including density bonuses, height incentives, and potential parking reductions, making it an ideal canvas for high-value multi-unit housing or innovative urban developments. Per our calculations, a buyer can build up to twenty-eight (28) units (buyer to verify).
Central Location
These apartment buildings are in the heart of the Fairfax District, an “A+” rental market under constant demand by high-income young professionals. This location offers tenants excellent proximity to some of Los Angeles' finest attractions, such as the Museum of Contemporary Art, Pacific Design Center, famed Sunset Strip, Runyon Canyon, The Grove, and Beverly Center.
Excellent Walkability
This prime location is adjacent and has easy access to the Cities of Beverly Hills and West Hollywood and is considered a Walker’s Paradise with a Walk Score of 96. Additionally, residents at this property are walking distance to the best part of The Grove with many places for dining, shopping, and entertainment.
Property Details
- Class
- C
- Year Built
- 1927
- Stories
- 2
- Lot Size (sq. ft)
- 19,166 SF
- Units
- 16
Highlights
- First Time on Market in 50+ Years
- Exit Optionality
- No On-Site Manager Required
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].