$ 2,399,000
1114 S Orange DR Los Angeles, CA 90019
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$ 2,399,000
Est. payment /mo
Active
1114 S Orange DR Los Angeles, CA 90019
6 Beds
5 Baths
5,666 SqFt
UPDATED:
11/23/2024 11:05 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,666 sqft
Price per Sqft $423
MLS Listing ID 24455707
Bedrooms 6
HOA Y/N No
Year Built 1941
Lot Size 7,283 Sqft
Property Description
Prime Investment Opportunity in Mid-City Los Angeles. The location of this property is truly exceptional. Recently renovated in 2024, this well-maintained multi-unit property offers a rare combination of modern upgrades and strong rental potential. The property consists of two spacious 1-bedroom, 1-bath units, a fully remodeled 3-bedroom, 2-bath unit, and a newly constructed 1-bedroom, 1-bath ADU, totaling 5,665 square feet of living space on a 7,281-square-foot lot.The two 1-bedroom units are each over 1,250 square feet, offering the potential to convert into 2-bedroom units, further increasing rental income opportunities. The remodeled 3-bedroom unit, spanning over 2,500 square feet, feels more like a single-family home, making it especially attractive to renters seeking luxury and space. It features European-finish fixtures, quartz countertops with a kitchen island, a Viking stove, updated stainless steel appliances, recessed lighting, and a new washer/dryer. Additionally, all units are equipped with their own washer and dryer, enhancing tenant convenience and desirability. Tenants pay for gas and electricity, leaving the owner responsible only for water and common area maintenance, ensuring an efficient cost structure and maximizing cash flow. The property benefits from its strategic location in the highly desirable Mid-City neighborhood, surrounded by ongoing gentrification and growing demand. Positioned in an HPOZ-zoned area, it offers convenient access to La Brea Avenue, where residents enjoy proximity to retail, entertainment, and daily necessities. With the newly constructed ADU adding additional rental income and the opportunity for further renovations to enhance rents, 1114 South Orange Drive represents an unparalleled investment opportunity. The combination of a prime location, superior future rental returns, and the value-add potential makes this property a must-see for savvy investors looking to capitalize on Mid-City's thriving rental market.
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Zoning LAR2
Interior
Heating Central, Wall Furnace
Cooling Central Air
Flooring Laminate, Stone
Fireplace No
Appliance Dishwasher, Dryer
Exterior
Garage Door-Multi, Garage
Garage Spaces 2.0
Garage Description 2.0
Attached Garage No
Total Parking Spaces 6
Building
Story 2
Entry Level One
Architectural Style Mediterranean
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5084020008
Special Listing Condition Standard
Listed by Jenny Um • eXp Realty of California Inc