Property listed by Equity Union, Eliyahu Appel 818-989-2000
$2,740,000
Set within one of Los Angeles' most established multifamily corridors, 802 S Orange Grove Ave & 6022 W 8th St is an eight-unit asset in the Miracle Mile neighborhood. The property benefits from immediate proximity to some of the city's most sought-after retail, dining, and cultural destinations, including The Grove,… Read More The Original Farmers Market, Museum Row, the La Brea Tarpits and other attractions. The newly open Metro D line is one block away. The property consists of eight residential units complemented by six on-site garages, which provide a current separate and consistent income stream. Additionally, the asset features a centralized laundry room, further enhancing supplemental income while improving tenant convenience. The combination of in-place rental income and ancillary revenue streams offers stable day-one cash flow. From an investment perspective, the asset presents a compelling opportunity with both current income and significant future upside. New ownership can capitalize on rental growth potential, ADU development opportunities, and further optimization of garage and laundry income. With strong demand for housing in Miracle Mile and continued neighborhood growth driven by transit expansion and retail demand, 802 S Orange Grove Ave & 6022 W 8th St offers investors a well-positioned asset with meaningful long-term appreciation and income growth potential. Read Less
Listing Snapshot
Days Online
15
Last Updated
Beds
8
Square Ft.
6,982
Lot Size
0.17 Acres
Year Built
1928
MLS Number
26829533
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1928, Living area: 6982.0, 1 building, Levels: MultiSplit
Cooling
None
Heating
None
Income
Gross Income: $207,996, Net Operating Income: $147,033
Laundry
LaundryRoom
Lot
0.1698 acres
Parking
6 total parking spaces
Taxes
Parcel Number: 5086011010, 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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