540 N Orlando Ave West Hollywood, CA 90048
17-Unit in Prime West Hollywood
SOLD: $6,525,000 CAP RATE: 5.45% GRM: 12.36 PRICE PER SQUARE FOOT: $435
We are pleased to announce the sale of 540 N Orlando Ave a well maintained 17 unit multifamily asset situated in one of the most premier pockets of West Hollywood just steps from Melrose Place. The property sold for $6,525,000 which reflects a price of $434 per square foot a 5.4 % cap rate and a 12.33 GRM.
The building offers an ideal unit mix consisting of one 3 bedroom 2 bathroom unit eleven 2 bedroom 2 bathroom units and five 1 bedroom 1 bathroom units. The property features a beautiful open courtyard space lush greenery and a secure gated entrance that enhances privacy and appeal. Additional amenities include 18 gated subterranean parking spaces and convenient on site laundry.
Located on a picturesque tree lined street the property provides immediate access to premier dining luxury boutiques and top entertainment destinations along Melrose Place La Cienega Boulevard and Beverly Boulevard. This location remains one of the most sought after rental submarkets in Los Angeles consistently demonstrating strong demand and limited turnover.
With current rents significantly below market the asset offers a compelling value add opportunity with an estimated 35 % upside in rental income. The combination of location upside and strong physical attributes makes 540 N Orlando Ave a high quality long term investment with excellent growth potential.
Investment Highlights
Prime West Hollywood location steps from Melrose Place offering unmatched access to top dining retail and entertainment
Highly desirable 17 unit building with an excellent mix of one 3 bedroom 2 bathroom unit eleven 2 bedroom 2 bathroom units and five 1 bedroom 1 bathroom units
Beautiful open courtyard and gated entrance creating a quiet private and secure living environment
18 gated subterranean parking spaces plus on site laundry providing strong tenant appeal
Significant value add potential with approximately 35 % upside in rental income
Located on a tree lined residential street surrounded by high end homes boutique retail and premium amenities
Consistently strong rental demand and limited supply in one of the most sought after pockets of West Hollywood
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com