Property listed by Coldwell Banker Realty, Vangelis Korasidis 310-777-6200
$2,175,000
We are excited to present a unique opportunity to purchase 351 N Orange Grove Ave, a fully occupied 4-unit apartment building centrally located in the highly sought-after Miracle Mile district of Los Angeles & next to West Hollywood. Constructed in the late 1920s with a Spanish architectural flair, the property… Read More offers a gross square footage of approximately 5,985 and is situated on a 6,373 sq ft lot. This property includes two spacious 2-bedroom, 1-bathroom unit downstairs, and two large 2-bedroom, 1-bathroom units upstairs, each approximately 1,500 sq ft. A key highlight is the full potential of the property for renovations enabling investors to realize the property's full income potential after their renovation is completed. The asset benefits from its designation within an HPOZ (Historic Preservation Overlay Zone), offering potential tax advantages, and also benefits from favorable R3 and TOC zoning, depending on HPOZ restrictions (buyer to verify). 351 N Orange Grove is optimally located just north of Beverly Blvd and The Grove, in the heart of Miracle Mile - an area renowned for its cultural, dining, and shopping amenities. With a Walk score of 92, the neighborhood is a veritable "walker's paradise", offering residents an array of nearby conveniences and an outstanding quality of life. It's approximately 1/2 mile from The Grove, LA's premier shopping and dining destination, featuring a mix of high-end retailers and unique boutiques, alongside world-class dining options, offering a desirable lifestyle for potential tenants. Just a block away from CBS studios. This property, with its historic charm, substantial square footage, zoning advantages, and superior location, offers an exceptional investment opportunity to maximize income potential and capital appreciation in the highly coveted Miracle Mile area. Motivated seller! Read Less
Listing Snapshot
Days Online
18
Last Updated
Beds
8
Square Ft.
5,985
Lot Size
0.15 Acres
Year Built
1928
MLS Number
26664183
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1928, Living area: 5985.0, 1 building, 2 stories, Levels: One
Disclosures
SellerDisclosure
Garage
5 spaces
Heating
Central, ForcedAir
Income
Gross Income: $108,276, Net Operating Income: $75,794
Lot
0.1463 acres
Parking
5 total parking spaces, Covered
Taxes
Parcel Number: 5527037010, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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