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6517 Orange Street

Los Angeles (City), CA 90048
  • $2,625,000
  • STATUS: Active
  • ON SITE: 11 Days
  • ID#: SR22163987
UPDATED: 28 min ago
$2,625,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1926
County:

School Ratings & Info

Listing Agent(s): Matthew Sillaman of Lb Property Management Inc (818-981-1802)


Description

****This property is being sold with 6521 Orange St. Los Angeles, CA 90048 (DIRECTLY ADJACENT / SHARED DRIVEWAY)****The stylishly low-maintenance Spanish 4-plex features enhanced entry area and landscaping (raised trellis & patio). The property recently received new roofing and exterior paint coat. There is potential to add an ADU @ rear of property. Parking includes 4 official covered spaces with ample room for more. All 4 units are large & bright two bedroom-two baths with some unit upgrades (each unit includes a dedicated laundry room with W/D). Zoned Q-LAR3 in TOC Tier 3 but in LA Survey Area. The total lot size is approximately 6,250 SF. APN#: 5510-024-015. Buyer to verify all info.This is a RARE opportunity to acquire two adjacent 4-plexs in prime Beverly Grove (lots together equate to approx: 12,500 SF). Beverly Grove is one of the citys most celebrated & centralized neighborhoods. Acknowledged as one of the most walkable neighborhoods in Los Angeles, theres no shortage of options with immediate proximity to well-known retail destinations, eateries, and entertainment. The area is anchored by the Beverly Center, The Grove, and LACMA All within a 5-min. drive or 20-min. walk. The property is also within a 10-min. walk to the Wilshire/ La Cienega Metro Station - Slated to open in 2024.Given the current interest rate environment, both 4-plexs allow a potential investor to acquire residential financing for both properties. Additionally, the dual properties allow an investor future exit flexibility. It should also be noted, theres potential to acquire both adjacent properties at opposite ends of 6517 & 6521 Orange St.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T23:25:43.98. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
www.americanrealestatehomes.com/homes/131268710
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6517 Orange Street Los Angeles (City), CA 90048

  • Price: $2,625,000
  • Status: Active
  • On Site: 11 Days
  • Updated: 28 min ago
  • ID#: SR22163987
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1926
Built
Neighborhood:
C19 - Beverly Center-Miracle Mile
County:
Los Angeles
Area:
C19 - Beverly Center-Miracle Mile
Property Description
****This property is being sold with 6521 Orange St. Los Angeles, CA 90048 (DIRECTLY ADJACENT / SHARED DRIVEWAY)****The stylishly low-maintenance Spanish 4-plex features enhanced entry area and landscaping (raised trellis & patio). The property recently received new roofing and exterior paint coat. There is potential to add an ADU @ rear of property. Parking includes 4 official covered spaces with ample room for more. All 4 units are large & bright two bedroom-two baths with some unit upgrades (each unit includes a dedicated laundry room with W/D). Zoned Q-LAR3 in TOC Tier 3 but in LA Survey Area. The total lot size is approximately 6,250 SF. APN#: 5510-024-015. Buyer to verify all info.This is a RARE opportunity to acquire two adjacent 4-plexs in prime Beverly Grove (lots together equate to approx: 12,500 SF). Beverly Grove is one of the citys most celebrated & centralized neighborhoods. Acknowledged as one of the most walkable neighborhoods in Los Angeles, theres no shortage of options with immediate proximity to well-known retail destinations, eateries, and entertainment. The area is anchored by the Beverly Center, The Grove, and LACMA All within a 5-min. drive or 20-min. walk. The property is also within a 10-min. walk to the Wilshire/ La Cienega Metro Station - Slated to open in 2024.Given the current interest rate environment, both 4-plexs allow a potential investor to acquire residential financing for both properties. Additionally, the dual properties allow an investor future exit flexibility. It should also be noted, theres potential to acquire both adjacent properties at opposite ends of 6517 & 6521 Orange St.
Exterior Features

Lot Features Level Number Of Separate Electric Meters 4 Parking Features Assigned Parking Total 4 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls Flooring Wood

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features Urban Electric Expense 1300 Garage YN Yes Gross Income 130671 Gross Scheduled Income 130671 Insurance Expense 2200 Land Lease YN No Laundry Features Laundry RoomSee Remarks Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanConventional1031 Exchange Maintenance Expense 2000 Net Operating Income 90971 New Construction YN No Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Number Of Units Leased 4 Operating Expense 39700 Pest Control Expense 500 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays SewerTrash Collection Total Actual Rent 130671 Trash Expense 0 Water Sewer Expense 1300 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T23:25:43.98. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
 
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American Real Estate List & Sell
6391 Magnolia Ave., B20
Riverside CA, 92505
Listing Agent(s): Matthew Sillaman of Lb Property Management Inc (818-981-1802)