BRING ALL OFFERS. Seller is highly motivated.We are pleased to present 1414 S Orange Drive, a newly constructed 2022 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… Read More buildings, this asset offers an 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 features open concept layouts, high ceilings, large kitchen islands or peninsulas, premium stainless steel appliances, sleek bathrooms with marble finishes, in unit laundry, and modern high end finishes throughout. All five units are fully leased, reflecting strong tenant demand in this highly walkable Mid City location with a Walk Score of 85.Offered at $3,550,000, the property presents a 5.6% cap rate and 13.89 GRM, equating to $710,000 per unit and $476 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, significantly reducing operating expenses and increasing net income.The property also features five tandem garages and five additional exterior parking spaces, providing ample parking for residents.Located just minutes from popular restaurants, retail, and entertainment, this is an exceptional 1031 exchange opportunity and a rare chance to acquire a low maintenance, high yield asset in one of Los Angeles' strongest rental corridors.Buyer to verify all information. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., David Saghian 310-259-7556
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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