5-Unit New Construction in Mid City
SOLD: $2,940,000 CAP RATE: 6.87% GRM: 11.36 PRICE PER SQUARE FOOT: $394
The Saghian Group is pleased to announce the successful sale of 1414 S Orange Drive, a newly constructed 2022 five-unit multifamily property located in the highly desirable Mid-City neighborhood of Los Angeles. Representing the seller, The Saghian Group successfully closed the transaction for $2,940,000, reflecting a 6.87% cap rate, 11.36 GRM, and $394 per square foot.
Situated on a 7,002-square-foot LARD1.5-zoned lot, the property consists of approximately 7,456 square feet of improvements across three buildings. The asset features an exceptional unit mix of two four-bedroom/four-and-a-half-bathroom units, one three-bedroom/three-and-a-half-bathroom unit, and two three-bedroom/two-bathroom units. Each residence offers modern open-concept layouts, high ceilings, premium stainless steel appliances, contemporary finishes, and in-unit laundry. The property also features five tandem garages and five additional exterior parking spaces.
All five units are fully leased, providing strong in-place income with minimal maintenance requirements. Additionally, the property is separately metered for gas, electricity, and water, with tenants responsible for their own utilities, helping reduce operating expenses and maximize net operating income.
Ideally located in the heart of Mid-City, the property offers convenient access to popular restaurants, cafes, shopping, and entertainment destinations. The combination of newer construction, spacious floor plans, strong rental income, and limited operating expenses makes 1414 S Orange Drive an attractive long-term multifamily investment.
This transaction highlights The Saghian Group's continued success in representing sellers and executing multifamily investment sales throughout Los Angeles.
Investment Highlights
Successfully Sold for $2,940,000 – Represented the seller in the sale of this newly constructed five-unit multifamily asset in prime Mid-City Los Angeles.
Strong Investment Metrics – Sold at a 6.87% cap rate, 11.36 GRM, and $394 per square foot.
Newer 2022 Construction – Modern, low-maintenance property featuring approximately 7,456 square feet of improvements across three buildings.
Desirable Large-Unit Mix – Two 4-bedroom/4.5-bathroom units, one 3-bedroom/3.5-bathroom unit, and two 3-bedroom/2-bathroom units.
100% Occupied – Fully leased property providing strong in-place rental income.
Separately Metered Utilities – Individual gas, electric, and water meters for all five units, with tenants responsible for utilities.
High-End Modern Finishes – Open-concept floor plans, high ceilings, stainless steel appliances, contemporary kitchens and bathrooms, and in-unit laundry.
Ample On-Site Parking – Five tandem garages plus five additional exterior parking spaces.
Prime Mid-City Location – Highly walkable neighborhood with convenient access to restaurants, shopping, entertainment, and major Los Angeles employment centers.
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com