1048 S Orange Dr
LAAA is pleased to present 1048 S. Orange Dr., located in Los Angeles, California. Built in 1926, the property is comprised of four large 2 bedroom / 1 bathroom units that are approximately 1,400 SF each. The stunning property is a wood framed structure with full brick veneer, hardwood floors and crown moldings. A true value add opportunity with unit #1’s lease coming up in November and rents approximately 35% below market, the offering allows an investor immense upside in a strong rental market. Its combination of architectural character and prime location make it a valuable asset for acquisition by an owner/user or a blue chip investment for your portfolio.
Amenities: Each unit has its own HVAC system, its own laundry room with a washer & dryer hookup, decorative fireplace mantel and formal dining room. Two units feature walk-in closets in both bedrooms; one in the other two. All units feature semi walk-in closets in the hallway as well as built-in storage cupboards and built-in drawers.
The property features a two-story deck, a fenced-in backyard with a dog run, ample carport and additional on-site, off-street parking.
The Miracle Mile District is one of Los Angeles' more densely populated areas which allows for a strong rental market. Located just South of Olympic and East of La Brea, the property
is adjacent to the Melrose and La Brea Retail District, the LA Brea Tar Pits, Miracle Mile, LACMA, The Petersen Automotive Museum, Folk Art Museum, The Grove and some of LA's finest restaurants such as Osteria Mozza, Republique and “Odys + Penelope.”
Each unit is powered and metered individually with 100 amp electrical panels and separate gas service/meters. An additional 100 amp house meter powers outside and crawl space lighting and is maintained by the owner.
Each unit has its own individual 40 gallon water heater.
For earthquake safety, foundation center walls have been sheered and exterior wall sill plates have been anchored.