Property listed by Lyon Stahl Investment Real Estate, Inc., David Saghian 310-425-9838
$3,395,000
"We are pleased to present 1414 S Orange Drive, a brand new 2021 construction 5 unit multifamily property located in the heart of prime Mid City, Los Angeles. Situated on a 7,002 square foot LARD1.5 zoned lot with 7,456 square feet of improvements across three buildings, this nasset offers an… Read More ideal high income unit mix consisting of two 4 bedroom 4.5 bathroom units, one 3 bedroom 3.5 bathroom unit, and two 3 bedroom 2 bathroom units. Each residence is thoughtfully designed with open concept layouts, high ceilings, large kitchen islands or peninsulas, premium stainless steel appliances, sleek white bathrooms with marble finishes, in unit laundry rooms with washers and dryers included, and modern high end fixtures throughout.All five units are fully leased, reflecting strong rental demand in this highly walkable Mid City location with a Walk Score of 85. Offered at $3,395,000, the property presents a real cap rate of 5.92% and a GRM of 13.28, equating to $679,000 per unit and $455 per square foot, making it one of the best priced new construction 5 unit assets in the submarket. Tenants pay all utilities, and the property is separately metered for gas, electric, and water with five meters for each, significantly reducing operating expenses and increasing net operating income. The building features five tandem garages plus five additional exterior parking spaces, providing ample parking for residents.Located just minutes from trendy restaurants, cafes, retail, and entertainment, 1414 S Orange Drive represents an exceptional 1031 exchange opportunity and a rare chance to acquire a low maintenance, high yield investment in one of Los Angeles' most desirable rental corridors. Buyer to verify all information. Read Less
Listing Snapshot
Days Online
23
Last Updated
Beds
17
Square Ft.
7,456
Lot Size
0.16 Acres
Year Built
2021
MLS Number
26837659
Additional Details
Appliances & Equipment
Dishwasher, Microwave, Dryer, Washer
Building
Built in 2021, Living area: 7456.0, 3 buildings, 3 stories, Levels: MultiSplit
Cooling
CentralAir
Heating
Central
Income
Gross Income: $255,600, Net Operating Income: $200,652
Lot
0.1608 acres
Parking
10 total parking spaces, DoorMulti, Garage, Uncovered
Taxes
Parcel Number: 5070018007, Zoning: LARD1.5
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
