1301 N ORANGE DRIVE, LOS ANGELES CA 90028
- 2,623 sq.ft.
- 5,741 sq.ft. lot
Property Description
We are pleased to present 1301 N Orange Dr, a 3 unit apartment building located in the heart of Hollywood, a prime neighborhood of Los Angeles, CA. Built in 1922, the property consists of (1) one-bedroom + one-bathroom + den unit and (2) two-bedroom +one-bathroom units. The building is 2,623 gross square feet and sits on a 5,739 square foot lot.1301 N Orange Dr is located on a charming, tree-lined street in Hollywood. There is no shortage of activities to explore in the area. From popular hiking trails of Runyon Canyon and Griffith Park to seeing the Hollywood Walk of Fame. Hollywood's central location provides convenient access to major freeways, public transportation, and is only a 5-minute walk to the Hollywood Blvd Metro station further extending the area's connectivity to the rest of Los Angeles.1301 N Orange Dr represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 4.96% with the ability to improve to a 5.60%CAP rate once units turnover.
Listing Courtesy of Michael Sterman, Marcus & Millichap
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