914 Orme Avenue, Los Angeles, CA 90023
Property
Sold August 2024
Listing Agent: MARIBEL BENITEZ (DRE #01866825) · Listing Office: Compass-Pasadena · Contact: 626-497-5620 · Bought with: KIET DO · KO TAI REALTY · MLS #WS24101288 · Source: CRMLS
About this property
914 Orme Ave is a 10-unit residential income community in Boyle Heights, Los Angeles with a total of 9 separate structures measuring 5,090 sf of living space on a 11,749 sf lot. Comprised of 8 individual Spanish Style Bungalows + 1 Duplex and a central courtyard, this mini compound may offer significant returns. Each unit has 1 bed 1 bath, its own laundry room, individual electric & gas meters and some DTLA views. Two units will be delivered VACANT. At $120,000 per unit, the offering provides savvy investors a unique opportunity to purchase a premium asset with strong (+/-72%) projected upside in market rents and value-add potential. In one of the strongest rental markets in LA, this property enjoys close proximity to the Financial District, Sixth St Bridge, the Arts District, USC Keck Hospital, Union Station, DTLA, LA Convention Center, Dodger Stadium and convenient access to the 5, 10, 60, 101 and 710 fwys. Exciting projects, such as the 6th St Viaduct PARC (Parks, Arts, River and Connectivity Improvements) is underway. A projected 12-acre park will span below the 6th St Bridge connecting Boyle Heights with the Arts District and the LA River. The new space will create dog parks, a skate park, a performing arts plaza, soccer fields, a playground, and open green space. First time on the market in 55+ years, this is your chance to take the property to the next level. Sold as-is.
Listing description from the August 2024 sale, as reported to CRMLS.
Sale history