Property Type Residential Income
Status Active
Price Type
Distressed
Year Built 2019
Neighborhood
Days on Website 76

Property Map

$13,000,000 – 1522 S Orange Grove Ave, Los Angeles, CA 90019

Street View

Listing courtesy of Dana Brody (CalBRE #01429001), Dana Brody.

Description

Welcome to Villas at Orange Grove, a 2019 built high-end new construction multi-housing asset just completed and ready for lease up. Built by a highly regarded architect and developer of multi-family as well as multi-million dollar homes in Bel Air and Brentwood, this 17 unit property features an excellent mix of two and three bedroom units, all which feature in-unit washer/dryers, central AC and heat, modern kitchens completed with stainless steel appliances, high ceilings, Milgard windows and sliders and tankless water heaters. Separately metered for gas, electricity and water, this beautifully designed property features large walk out patios on the 1st floor and all units on the 3rd floor as well as roof top deck boast unparalleled views of Century City to the West and Downtown Los Angeles and Hollywood to the East and North. The property has 34 subterranean gated parking spaces, a finished rooftop deck with 360 degree views of all of Los Angeles with elevator access.

Property Details and Features

Listing

  • Listed on 2019-09-23
  • $535 per square foot
  • Cash
  • Cash To New Loan

Bedrooms

  • Unit 1 has 2 bedrooms
  • Unit 2 has 3 bedrooms
  • Unit 3 has 3 bedrooms

Bathrooms

  • Unit 1 has 2 bathrooms
  • Unit 2 has 2 bathrooms
  • Unit 3 has 3 bathrooms

Location

  • County: Los Angeles
  • ZIP code: 90019
  • Area: Mid Los Angeles (C16)

House

  • Built in 2019
  • Building is 24307.0 square feet
  • 17 total units in complex
  • 1 building

Security System

  • 24 Hour

Property

  • New Construction
  • Zoning: R3
  • City View
  • City Lights View

Lot

  • Lot size source: Public Records

Parking

  • 34 total parking spaces
  • Underground

Cooling

  • Central A/C

Heating

  • Central Furnace

Water

  • Tankless

Miscellaneous

  • $891,636 gross operating income
  • [value} net operating income
  • $290,855 total annual expense
  • $12,000 electric expense
  • $2,100 elevator expense
  • $5,700 gardener expense
  • $15,000 insurance expense
  • $13,290 maintenance expense
  • 35665.00 management expense
  • $158,600 tax expense
  • $12,500 trash expense
  • $12,000 water expense
  • Unit 9 is furnished
  • Unit 10 is furnished
  • Unit 11 is furnished
  • Unit 12 is furnished
  • Unit 13 is furnished

Tenant Pays

  • Electricity
  • Gas
  • Water

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