1030 N Orange Grove Ave - Apartments FOR SALE


Los Angeles, CA 90046
$9,995,000 USD
310-706-4400
1030 N Orange Grove Ave, Los Angeles, CA for Sale
$9,995,000 USD
Apartments - FOR SALE
1/10
null | 4.58% Cap Rate

1030 N Orange Grove Ave
Los Angeles, CA 90046


HIGHLIGHTS

  • Attractive in-place financing that can be assumed (4.48% fixed through November 2029, 53% LTV).
  • Located in West Hollywood, one of the most desirable multifamily markets in Southern California
  • Offers investors the opportunity to increase rental income by approximately 45% on average post renovation.
  • Only one block from a popular stretch of Santa Monica Boulevard with countless restaurants, coffee shops, and boutique shopping.
  • Mid-size apartment communities in West Hollywood rarely become available for purchase.
  • With a 97 walk score, 1030 North Orange Grove is a walker’s paradise – daily errands do not require a car.

OVERVIEW

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1030 North Orange Grove, a 27-unit apartment building located near the corner of Fairfax Avenue and Santa Monica Boulevard in West Hollywood. 1030 North Orange Grove Apartments represents an excellent buying opportunity given its attractive assumable financing (4.48% fixed through November 2029, 53% LTV), 45% upside in rental income post renovation, and prime location in West Hollywood—within walking distance of the countless restaurants, coffee shops, boutique shopping, and nightlife located along Santa Monica Boulevard. Consisting of one three-story building over on-grade parking structure situated on a 13,260 square foot parcel, the property features 27 units including an excellent mix of 600-650 square foot one-bedrooms and 950 square foot two-bedrooms. 1030 North Orange Grove Apartments features controlled access entry, an open-air central courtyard, a small entry lobby, 31 gated garage parking spaces, one elevator, and on-site laundry. While the property has been well maintained by current ownership, 1030 North Orange Grove Apartments is ideally positioned for a renovation plan given the demand for luxury finishes and appointments created by the strong area demographics and the desire of residents to be within walking distance of everyday amenities. Given the property’s superb West Hollywood location and significant value-add component, 1030 North Orange Grove is well suited to provide investors with healthy returns and long-term appreciation.

FOR SALE DETAILS

PRICE

$9,995,000 USD

PRICE/SF

$407 USD /SF

# OF UNITS

27

PRICE/UNIT

$370,185

CAP RATE

4.58%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1030 North Orange Grove

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1962

PARKING SPACES

31

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

WDR3C*

APN/PARCEL ID

5530-013-013

ASK ABOUT THIS PROPERTY

Kevin GreenTHG Multifamily AdvisorsMore Info
310-706-4400

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Kevin GreenTHG Multifamily AdvisorsMore Info
310-706-4400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.