1414 S Orange Drive Los Angeles, CA 90019
5-Unit New Construction in Mid City
LIST PRICE: $3,550,000 CAP RATE: 5.60% GRM: 13.89 PRICE PER SQUARE FOOT: $476
We are pleased to present 1414 S Orange Drive, a brand new 2022 construction 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 buildings, this non rent controlled, AB1482 exempt 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 is thoughtfully designed with open concept layouts, high ceilings, large kitchen islands or peninsulas, premium stainless steel appliances, sleek white bathrooms with marble finishes, in unit laundry rooms with washers and dryers included, and modern high end fixtures throughout.
All five units are fully leased, reflecting strong rental demand in this highly walkable Mid City location with a Walk Score of 85. Offered at $3,550,000, the property presents a real cap rate of 5.6% and a GRM of 13.89, 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 with five meters for each, significantly reducing operating expenses and increasing net operating income. The building features five tandem garages plus five additional exterior parking spaces, providing ample parking for residents.
Located just minutes from trendy restaurants, cafes, retail, and entertainment, 1414 S Orange Drive represents an exceptional 1031 exchange opportunity and a rare chance to acquire a low maintenance, high yield investment in one of Los Angeles’ most desirable rental corridors. Buyer to verify all information.
Investment Highlights
Brand-new construction with premium modern finishes throughout
All units fully equipped with high-end stainless steel kitchen appliances
Upscale kitchens feature large islands or peninsulas and open-concept layouts
Spacious in-unit laundry rooms with washers and dryers included
Boasts high-end, modern finishes. High ceilings and sleek white bathrooms with marble and premium fixtures
All units separately metered for gas, electric, and water
No Rent Control – AB1482 Exempt
REAL Cap Rate of 5.71%
All five units have been leased
Situated in prime Mid City – a highly desirable location attracting quality tenants
Walk Score of 85 – "Very Walkable"
Dream 1031 exchange opportunity. Ready to close!
One of the best-priced 5-unit new construction assets in the Mid City market
Ideal unit mix: (2) 4-bedrooms and (3) 3-bedrooms Tenants pay all utilities – reducing operating expenses and increasing
Exclusively Listed By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com