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.