Property listed by Miller & Desatnik Realty Co., David Miller 310-202-9166
$5,395,000
Nestled on a picturesque tree-lined street just south of Melrose and west of Highland, The Orange Drive Residences is a rare and coveted offering in the heart of historic Hancock Park. This exceptional property features 10 individually renovated units across seven charming bungalow-style structures, all arranged around a serene and… Read More beautifully manicured central courtyard on a generous 14,850 SF lot. Built in 1927 and thoughtfully reimagined in the early 2000s, each residence effortlessly blends classic architecture with modern comforts. These spacious 1-bedroom, 1-bathroom cottages offer the privacy and ambiance of a single-family home, with vaulted ceilings and versatile loft-style bonus spaces perfect for a second bedroom, creative studio, or office. Highlights of renovations include:Designer-updated kitchens and bathrooms, Stylish hardwood flooring and finishes, In-unit washer/dryers and airconditioning, Lush landscaping and private entrancesImportantly, the property is exempt from LA City rent control and AB 1482, positioning it as a rare investmentopportunity with strong in-place income and room for rent growth. Additionally, two existing garages present a value-add opportunity with ADU conversion potential, further enhancing revenue.The Orange Drive Residences is more than an income propertyit's a trophy asset that offers both timeless character and modern appeal in one of LA's most enduringly desirable neighborhoods. This property would be a a true generational asset, and a jewel in any sophisticated commercial real estate investor's portfolio. Read Less
Listing Snapshot
Days Online
13
Last Updated
Property Type
Other
Beds
10
Square Ft.
7,630
Lot Size
0.34 Acres
Year Built
1927
MLS Number
25540681
30 Days Snapshot Of 90036
$1.77M
-20%
(avg) sold price
14
+75%
homes sold
85
+3%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Refrigerator, Dryer, Washer
Building
Built in 1927, Building area total: 7,630, Levels: One, Living area: 7630, 1 story, 7 buildings, Architectural style: Cottage
Garage
4 spaces
Heating
Electric
Income
Gross income: $361,380, Net operating income: $234,141
Lot
0.341 acres, 14,854 square feet, Size: 14,854
Parking
4 totals parking, Driveway, Garage
Property
Zoning: LARD1.5
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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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