Property listed by Marcus & Millichap, Michael Sterman 818-212-2700
$1,095,000
We are pleased to present 1301 N Orange Dr, a 3 unit apartment building located in the heart of Hollywood, a prime neighborhood of Los Angeles, CA. Built in 1922, the property consists of (1) one-bedroom + one-bathroom + den unit and (2) two-bedroom +one-bathroom units. The building is 2,623… Read More gross square feet and sits on a 5,739 square foot lot.1301 N Orange Dr is located on a charming, tree-lined street in Hollywood. There is no shortage of activities to explore in the area. From popular hiking trails of Runyon Canyon and Griffith Park to seeing the Hollywood Walk of Fame. Hollywood's central location provides convenient access to major freeways, public transportation, and is only a 5-minute walk to the Hollywood Blvd Metro station further extending the area's connectivity to the rest of Los Angeles.1301 N Orange Dr represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 4.96% with the ability to improve to a 5.60%CAP rate once units turnover. Read Less
Listing Snapshot
Days Online
45
Last Updated
Property Type
Other
Beds
5
Square Ft.
2,623
Lot Size
0.13 Acres
Year Built
1922
MLS Number
25519729
30 Days Snapshot Of 90028
$664k
-25%
(avg) sold price
5
-16%
homes sold
104
+46%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1922, Building area total: 2,623, Levels: MultiSplit, Living area: 2623, 2 buildings
Income
Gross income: $85,248, Net operating income: $54,340
Lot
0.1318 acres, 5,741 square feet, Size: 5,741
Parking
Garage
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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