Homes for sale - 1114 S Orange Dr, Los Angeles, CA 90019

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John Matukas

john.matukas@exprealty.com +1(323) 377-4961

$2,399,000

Est. payment - /mo

6 Beds

5 Baths

5,666 SqFt

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UPDATED:

11/23/2024 09:53 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,666 sqft

Price per Sqft $423

MLS Listing ID 24-455707

Style Mediterranean

Bedrooms 6

Year Built 1941

Lot Size 7,284 Sqft

Acres 0.1672

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 Beverly Center-Miracle Mile

Zoning LAR2

Rooms

Other Rooms None

Interior

Heating Central, Wall

Cooling Central, Wall Unit(s)

Flooring Stone, Laminate, Other, Mixed, Ceramic Tile

Equipment Dishwasher, Dryer

Exterior

Parking Features Detached, Garage - 2 Car

Garage Spaces 6.0

Building

Story 2

Architectural Style Mediterranean

Level or Stories One

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by eXp Realty of California Inc

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John Matukas

+1(323) 377-4961

Dedicated to Your outcome

1114 S Orange Dr Los Angeles, CA 90019

John Matukas

Key Details

Location

Rooms

Interior

Exterior

Building

Others