$ 3,550,000
-
$3,550,000
Price -
17
Bed -
16.5
Bath -
7,456
SqFt
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About the Listing X82195 - C134249
MOTIVATED SELLER *** We are pleased to present 1414 S Orange Drive, a newly constructed 2022 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 asset offers an 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 features open concept layouts, high ceilings, large kitchen islands or peninsulas, premium stainless steel appliances, sleek bathrooms with marble finishes, in unit laundry, and modern high end finishes throughout. All five units are fully leased, reflecting strong tenant demand in this highly walkable Mid City location with a Walk Score of 85.Offered at $3,550,000, the property presents a 5.6% cap rate and 13.89 GRM, equating to $710,000 per unit and $476 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, significantly reducing operating expenses and increasing net income.The property also features five tandem garages and five additional exterior parking spaces, providing ample parking for residents.Located just minutes from popular restaurants, retail, and entertainment, this is an exceptional 1031 exchange opportunity and a rare chance to acquire a low maintenance, high yield asset in one of Los Angeles' strongest rental corridors.Buyer to verify all information.
Listing Highlights
Status
Active
Days on Site
17
Property Type
Multi-Family
MLS ®
26660309
Year Built
2022
Total Square Footage
7,456
Lot/Acreage
0.16
County
Los Angeles
Interior Details
- Bedrooms: 17
- Bathrooms: 16.5 Full
- Appliances:
- Air Cond: Central
- Heating: Central
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LARD1.5
- Roof:
- Others:
- Sewer:
- Parking Features: Garage - 1 Car,Garage Is Attached,Uncovered
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
1414 S Orange Dr Los Angeles, CA 90019
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