Property
| Ownership: | For Sale |
|---|---|
| Bedrooms: | 5 BR |
| Bathrooms: | 5 |
| Area: | 7557 sq ft |
| Lot Size: | 0.2 Acres |
Financials
Price:$2,195,000
Listing Courtesy of Dana Brody
1206 N Orange Grove Ave 5BR Hollywood Hills East La
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.
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All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.