1206 N Orange Grove Avenue,Los Angeles, CA 90046
Los Angeles, CA 90046
Description
We are very pleased to present The Villas at Orange Grove, the rare opportunity to acquire a fully remodeled five-unit apartment building in a prime West Hollywood location. 1206 N. Orange Grove combines classic Spanish-style architecture, five beautifully upgraded residences, and an attractive income profile, perfect for an investor looking for an upgraded and remodeled multi-family investment property in this very desirable rental pocket of West Hollywood. This fully remodeled five-unit multi-family features an excellent unit mix of two one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units, with bright, spacious and modern interiors throughout. Ideally situated within walking distance of Whole Foods Market and the vibrant dining and shopping destinations along Santa Monica Boulevard and Fairfax Avenue, The Villas at Orange Grove offers residents an exceptional walkable lifestyle in one of Los Angeles' most desirable rental markets. Popular neighborhood destinations include Mamie Italian Kitchen, Hugo's, Pura Vita, and an array of cafes, boutiques, and local restaurants. The location also provides convenient access to the Sunset Strip, Beverly Grove, and surrounding West Hollywood and Hollywood neighborhoods. The financial profile is equally compelling. Offered at $2,195,000, the property generates approximately $169,800 in annual scheduled rental income and $108,272 in annual net operating income, reflecting an in-place 5% cap rate. Underwritten market rents indicate the potential to increase annual scheduled income to $193,200 and NOI to $127,106, supporting a projected 5.8% market cap rate, subject to verification of rental assumptions and operating expenses. Additional features include separately metered utilities and a distinctive Spanish-style exterior and landscaping that really enhances the property's curb appeal. With all five residences beautifully remodeled inside and out an attractive unit mix, and an exceptional walkable location near Whole Foods, popular restaurants, and neighborhood amenities, 1206 N. Orange Grove Avenue presents an appealing opportunity to acquire a quality five-unit multifamily asset with established income and potential future rental upside in a super prime West Hollywood location.
Details
| MLS # | 26101926 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1921 |
| Days On Site | 7 |
| Listing Provided By | Dana Brody | Dana Brody |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 3,846 |
| Story(s) | 1 |
| Units | 5 |
| Building(s) | 2 |
| Zoning | WDR3C* |
| Acreage | 0.17 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Dishwasher, Disposal, Microwave |
Parking
| Parking Features | Uncovered |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90046 |
| Area | C10 West Hollywood Vicinity |
| Listing VS Median (in 90046) | |
Price: $2,195,000 low | high Med: $549,500 sqft: 3,846 low | high Med: 641 $ / sqft: $571 low | high Med: $857 On site: 7 low | high Med: 33 | |
Market Activity 90046
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90046 |
| Area | C10 West Hollywood Vicinity |
| Listing VS Median (in 90046) | |
Price: $2,195,000 low | high Med: $549,500 sqft: 3,846 low | high Med: 641 $ / sqft: $571 low | high Med: $857 On site: 7 low | high Med: 33 | |
