1044 S Orange Grove Avenue, Los Angeles, CA 90019

About this property

Charming and well-maintained fourplex located between prime Miracle Mile and Carthay Circle, two highly desirable submarkets of Los Angeles. Originally constructed in 1937, the Property is a unique two-story structure that has undergone numerous upgrades and offers the opportunity to add value through additional renovations. The Property features extremely spacious units with a desirable unit mix of four, 2 bedroom, 1 baths units that average between 1,320-1,350 SF. The units have been upgraded with new kitchens and bathrooms, stainless steel appliances, hardwood floors throughout, central AC/heat, in-unit washer and dryers, high ceilings, French windows, crown molding, and decorative fireplaces. Each unit boasts character, charm, and a favorable layout. Additionally the Property features a new roof, new exterior paint, upgraded plumbing and electrical, a new sewer line to main, new water heaters, electric garage door openers, and more. The building individually metered for electricity and gas and master metered for water. The Property includes a total of 7 on-site parking spaces, with 5 private garage spaces and two additional surface spaces. There is also a possibility to add potential Accessory Dwelling Units (ADUs) and ultimately increase the rental income and cash flow (buyer toc onfirm). Through additional renovations and possible construction of ADUs, an investor will have the opportunity to capitalize on the remaining rental upside. 1044-1046 S Orange Grove Ave is positioned in sought-after community in Los Angeles, and is located south of San Vicente and one block east of Fairfax. The Property is a Walker's Paradise, conveniently located next to countless amenities, including critically acclaimed restaurants, trendy bars, fitness centers, shopping, hotels, entertainment venues, museums, and local transportation. Tenants are ideally positioned near major employment centers including Century City, Beverly Hills, West Hollywood, Mid-Wilshire, Downtown Los Angeles and Hollywood. 1044-1046 S Orange Grove Ave provides an investor with the opportunity to acquire a well-maintained and ideally located asset with upside potential.

Listing description from the September 2023 sale, as reported to CRMLS.

Sale history

$2,475,000

Sold September 2023 · listed $2,495,000, on market August 2023 · MLS #23299221 · Source: CRMLS

Listing Agent: Janet Neman · Listing Office: Kidder Mathews of California, Inc. · Contact: 858-369-3010 · Bought with: Janet Neman · Kidder Mathews of California, Inc.

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