Property listed by CB Richard Ellis, Inc., Adam Peterson
$1,999,000
418 N. Orange Grove Ave. is situated squarely in the epicenter of the Melrose/Fairfax district, about 3 miles east of Beverly Hills. It's known for its central location and a vibrant, youthful atmosphere. The area attracts residents seeking to be in the middle of Los Angeles' dynamic environment, with convenient… Read More access to various amenities and attractions. Ownership has lovingly cared for the property over the years, replacing all windows, electrical, and converting water supply lines to copper. The roof has been replaced and has been maintained as needed. Units feature charming, period features such as crown moldings, mosaic tile fireplaces, built-ins, murphy beds and original hardwood flooring. All four apartments offer in-unit washer and dryer as well as garage parking at the rear of the property. One downstairs unit will be delivered vacant at the close of escrow. Units are all large, 1200+ square-foot 2+1s with baseboard heating. The building is separately metered for gas and electricity with LADWP handling trash removal at the tenants' expense. Additionally, there is a small patio area next to the garages that can be easily converted to a tenant amenity area. The rear garages and parking area also offer realistic ADU potential with immediate equity available to the benefit of ownership upon completion. The area's proximity to shopping destinations like The Grove and Beverly Center, along with the numerous restaurants and entertainment options along Melrose Avenue and Fairfax Avenue, makes it attractive to renters. The presence of schools like Laurel Elementary and Fairfax Senior High School also adds to the area's appeal for families. Just one block east of Fairfax Avenue, tenants enjoy immeasurable dining, entertainment and shopping options. The walkability of the neighborhood around 418 N. Orange Grove Ave. is a significant factor in its desirability to renters. Residents can walk to grocery stores, restaurants, and other conveniences. The proximity to major transportation hubs, such as the Fairfax/Wilshire, Hollywood/Highland Metro stations, further enhances the desirability of the location for renters and owners alike, providing easy access to the wider Los Angeles area. Read Less
Listing Snapshot
Days Online
49
Last Updated
Property Type
Other
Beds
8
Square Ft.
5,438
Lot Size
0.14 Acres
Year Built
1928
MLS Number
25525995
30 Days Snapshot Of 90036
$1.70M
-15%
(avg) sold price
11
+37%
homes sold
82
-4%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher
Building
Built in 1928, Building area total: 5,438, Levels: Two, Living area: 5438, 2 stories, 2 buildings
Fireplaces
Decorative
Floors
Wood
Garage
4 spaces
Heating
Baseboard
Income
Gross income: $131,808, Net operating income: $83,276
Interior Features
CeilingFans
Lot
0.1378 acres, 6,002 square feet, Size: 6,002
Parking
4 totals parking, Concrete, Covered, OneSpace
Property
Zoning: LARD1.5
Tenant Pays
Electricity, Gas
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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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