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
Courtesy of Lyon Stahl Investment Real Estate, Inc. 310-425-9838
Listing Snapshot
Days Online
21
Last Updated
Property Type
Other
Beds
17
Square Ft.
7,456
Lot Size
0.16 Acres
Year Built
2021
MLS Number
26837659
30 Days Snapshot Of 90019
$1.42M
+5%
(avg) sold price
4
-63%
homes sold
93
+27%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
"Dishwasher", "Microwave", "Dryer", "Washer"
Building
7,456 sq ft, Built in 2021, Levels: "Multi Levels"
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