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$ 2,195,000
Est. payment | /mo
5 Beds
5 Baths
3,846 SqFt
$ 2,195,000
Est. payment | /mo
5 Beds
5 Baths
3,846 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,846 sqft
Price per Sqft $570
MLS Listing ID 26101926
Bedrooms 5
HOA Y/N No
Year Built 1921
Lot Size 7,557 Sqft
Property 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.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning WDR3C*
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Disposal, Microwave
Exterior
Parking Features Uncovered
Building
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5530002010
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard
Listed by Dana Brody Dana Brody #01429001
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