Multifamily

1315 North Orange Drive

1315 North Orange Drive, Los Angeles, CA 90028

Listing Price: $2,850,000

Cap Rate
4.26%
Number of Units
8
Price/Unit
$356,250
Price/Gross SF
$540.80
Gross SF
5,270

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1315 North Orange Drive, an eight-unit apartment community in prime Hollywood. The property offers investors a unique opportunity to acquire a renovated building with stable operating history and remaining rental upside. 1315 North Orange Drive is situated just south from one of the most famous and highly trafficked thoroughfares in Los Angeles, Sunset Boulevard. The property features, on-site parking, on-site laundry, wellmanicured common area and is individually metered for electric and gas. The meticulously maintained property built in 1949 consists of six one-bedroom/ one-bathroom units and two two-bedroom/ one-bathroom units. Its 8,090 square foot lot nestles on a residential street with ample street parking. It is also walking distance to the main intersection of La Brea Avenue and Sunset Boulevard providing convenient access to all the main attractions of both Hollywood and West Hollywood. Given the property’s prime location and recent improvements, 1315 North Orange Drive is an ideal investment for an investor seeking strong long-term returns and appreciation potential within a prime Hollywood rental market.

Investment Highlights

  • The Property Features Individual Water Heaters and Tenants Pay Trash, Electric and Gas – Creating Significantly Lower Operating Costs for Ownership
  • The Property is Being Offered Free and Clear of Debt Enabling Investors to Take Advantage of Historically Low Interest Rates and Attractive Financing Programs
  • Located Within Walking Distance to Sunset Boulevard & La Brea Avenue – The Nexus ofWest Hollywood and Hollywood.
  • METICULOUSLY MAINTAINED PROPERTYWITH STABLE OPERATING HISTORY
  • Eight Secured Parking Spaces that Do Not Require Seismic Retrofit Work

Exclusively Listed By

Listing Price: $2,850,000

Cap Rate
4.26%
Number of Units
8
Price/Unit
$356,250
Price/Gross SF
$540.80
Gross SF
5,270

Investment Highlights

  • The Property Features Individual Water Heaters and Tenants Pay Trash, Electric and Gas – Creating Significantly Lower Operating Costs for Ownership
  • The Property is Being Offered Free and Clear of Debt Enabling Investors to Take Advantage of Historically Low Interest Rates and Attractive Financing Programs
  • Located Within Walking Distance to Sunset Boulevard & La Brea Avenue – The Nexus ofWest Hollywood and Hollywood.
  • METICULOUSLY MAINTAINED PROPERTYWITH STABLE OPERATING HISTORY
  • Eight Secured Parking Spaces that Do Not Require Seismic Retrofit Work

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1315 North Orange Drive, an eight-unit apartment community in prime Hollywood. The property offers investors a unique opportunity to acquire a renovated building with stable operating history and remaining rental upside. 1315 North Orange Drive is situated just south from one of the most famous and highly trafficked thoroughfares in Los Angeles, Sunset Boulevard. The property features, on-site parking, on-site laundry, wellmanicured common area and is individually metered for electric and gas. The meticulously maintained property built in 1949 consists of six one-bedroom/ one-bathroom units and two two-bedroom/ one-bathroom units. Its 8,090 square foot lot nestles on a residential street with ample street parking. It is also walking distance to the main intersection of La Brea Avenue and Sunset Boulevard providing convenient access to all the main attractions of both Hollywood and West Hollywood. Given the property’s prime location and recent improvements, 1315 North Orange Drive is an ideal investment for an investor seeking strong long-term returns and appreciation potential within a prime Hollywood rental market.

Exclusively Listed By

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