1006 S Orange Drive
Los Angeles, CA 90019
Listing provided courtesy of: KW Commercial Studio City
Property Description
1006 South Orange Drive is a 16-unit apartment community and the highly sought-after Miracle Mile sub-market. This 16-unit Miracle Mile apartment community is centrally right off Olympic Blvd., a short distance from Wilshire Blvd., The Grove, and other popular destinations. Miracle Mile multifamily investments have historically provided investors exceptional long-term capital appreciation and wealth preservation. 1006 South Orange Drive, built in 1928, features four (4) 1- Bedroom/1-Bathroom units, two (2) Junior 1-Bedroom/1-Bathroom units, and ten (10) Studio Apartments. Investors and renters will be drawn to the attractive 1920s brick property with twin-pitched roofs, original windows, and manicured landscaping. Property amenities include an on-site laundry room, private seating area/porch on the second floor, and an inviting backyard--great for outdoor dining or dog walks. The apartment homes are individually metered for electricity and master-metered for gas and water. Current ownership has also implemented a Utility Pass-Through Program (RUBs System), keeping the owner's expenses low by passing along shared expenses to the tenants. The asset is close to world-class dining, shopping, entertainment, and nightlife in Los Angeles. It further benefits from access to business services and major employment centers throughout the city and its surrounding neighborhoods. There is a substantial rental upside based on the current market vs. existing rents, thus representing a significant long-term investment opportunity in an exceptional Miracle Mile location.
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Features:
On Street
| Price: | $3,695,000 |
| Beds: | 4 |
| Baths: | 16 |
| Interior (SQFT): | 10,544 |
| Lot Size (SQFT): | 10,454 |
| Property Type: | Residential Income |
| Year Built: | 1928 |
Listing provided courtesy of: KW Commercial Studio City. 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. Based on information from California Regional MLS. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. © 2025 by California Regional MLS. All rights reserved. Listing last updated on 04/29/2025 16:47:55
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