Property
| Ownership: | For Sale |
|---|---|
| Bedrooms: | 4 BR |
| Bathrooms: | 16 |
| Area: | 10326 sq ft |
| Lot Size: | 0.24 Acres |
FinancialsPrice:$3,695,000
Description1006 South Orange Drive is a 16-unit apartment community and the highly sought-after Miracle Mile sub-market. This 16-unit Miracle Mile apartment community is centrally right off Olympic Blvd., a short distance from Wilshire Blvd., The Grove, and other popular destinations. Miracle Mile multifamily investments have historically provided investors exceptional long-term capital appreciation and wealth preservation. 1006 South Orange Drive, built in 1928, features four (4) 1- Bedroom/1-Bathroom units, two (2) Junior 1-Bedroom/1-Bathroom units, and ten (10) Studio Apartments. Investors and renters will be drawn to the attractive 1920s brick property with twin-pitched roofs, original windows, and manicured landscaping. Property amenities include an on-site laundry room, private seating area/porch on the second floor, and an inviting backyard--great for outdoor dining or dog walks. The apartment homes are individually metered for electricity and master-metered for gas and water. Current ownership has also implemented a Utility Pass-Through Program (RUBs System), keeping the owner's expenses low by passing along shared expenses to the tenants. The asset is close to world-class dining, shopping, entertainment, and nightlife in Los Angeles. It further benefits from access to business services and major employment centers throughout the city and its surrounding neighborhoods. There is a substantial rental upside based on the current market vs. existing rents, thus representing a significant long-term investment opportunity in an exceptional Miracle Mile location.
1006 South Orange Drive is a 16-unit apartment community and the highly sought-after Miracle Mile sub-market. This 16-unit Miracle Mile apartment community is centrally right off Olympic Blvd., a short distance from Wilshire Blvd., The Grove, and other popular destinations. Miracle Mile multifamily investments have historically provided investors exceptional long-term capital appreciation and wealth preservation. 1006 South Orange Drive, built in 1928, features four (4) 1- Bedroom/1-Bathroom units, two (2) Junior 1-Bedroom/1-Bathroom units, and ten (10) Studio Apartments. Investors and renters will be drawn to the attractive 1920s brick property with twin-pitched roofs, original windows, and manicured landscaping. Property amenities include an on-site laundry room, private seating area/porch on the second floor, and an inviting backyard--great for outdoor dining or dog walks. The apartment homes are individually metered for electricity and master-metered for gas and water. Current ownership has also implemented a Utility Pass-Through Program (RUBs System), keeping the owner's expenses low by passing along shared expenses to the tenants. The asset is close to world-class dining, shopping, entertainment, and nightlife in Los Angeles. It further benefits from access to business services and major employment centers throughout the city and its surrounding neighborhoods. There is a substantial rental upside based on the current market vs. existing rents, thus representing a significant long-term investment opportunity in an exceptional Miracle Mile location.
1006 S Orange Dr 4.0 LA
Description1006 South Orange Drive is a 16-unit apartment community and the highly sought-after Miracle Mile sub-market. This 16-unit Miracle Mile apartment community is centrally right off Olympic Blvd., a short distance from Wilshire Blvd., The Grove, and other popular destinations. Miracle Mile multifamily investments have historically provided investors exceptional long-term capital appreciation and wealth preservation. 1006 South Orange Drive, built in 1928, features four (4) 1- Bedroom/1-Bathroom units, two (2) Junior 1-Bedroom/1-Bathroom units, and ten (10) Studio Apartments. Investors and renters will be drawn to the attractive 1920s brick property with twin-pitched roofs, original windows, and manicured landscaping. Property amenities include an on-site laundry room, private seating area/porch on the second floor, and an inviting backyard--great for outdoor dining or dog walks. The apartment homes are individually metered for electricity and master-metered for gas and water. Current ownership has also implemented a Utility Pass-Through Program (RUBs System), keeping the owner's expenses low by passing along shared expenses to the tenants. The asset is close to world-class dining, shopping, entertainment, and nightlife in Los Angeles. It further benefits from access to business services and major employment centers throughout the city and its surrounding neighborhoods. There is a substantial rental upside based on the current market vs. existing rents, thus representing a significant long-term investment opportunity in an exceptional Miracle Mile location.
1006 South Orange Drive is a 16-unit apartment community and the highly sought-after Miracle Mile sub-market. This 16-unit Miracle Mile apartment community is centrally right off Olympic Blvd., a short distance from Wilshire Blvd., The Grove, and other popular destinations. Miracle Mile multifamily investments have historically provided investors exceptional long-term capital appreciation and wealth preservation. 1006 South Orange Drive, built in 1928, features four (4) 1- Bedroom/1-Bathroom units, two (2) Junior 1-Bedroom/1-Bathroom units, and ten (10) Studio Apartments. Investors and renters will be drawn to the attractive 1920s brick property with twin-pitched roofs, original windows, and manicured landscaping. Property amenities include an on-site laundry room, private seating area/porch on the second floor, and an inviting backyard--great for outdoor dining or dog walks. The apartment homes are individually metered for electricity and master-metered for gas and water. Current ownership has also implemented a Utility Pass-Through Program (RUBs System), keeping the owner's expenses low by passing along shared expenses to the tenants. The asset is close to world-class dining, shopping, entertainment, and nightlife in Los Angeles. It further benefits from access to business services and major employment centers throughout the city and its surrounding neighborhoods. There is a substantial rental upside based on the current market vs. existing rents, thus representing a significant long-term investment opportunity in an exceptional Miracle Mile location.
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.