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.
Property Details
Price:
$3,695,000
MLS #:
25513845
Status:
Active
Baths:
0
Address:
1006 S Orange Drive
Type:
Residential Income
Neighborhood:
c18hancockparkwilshire
City:
Los Angeles
Listed Date:
Mar 19, 2025
State:
CA
ZIP:
90019
Lot Size:
10,326 sqft / 0.24 acres (approx)
Year Built:
1928
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Interior
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Parking Features
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Stories Total
2
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Community
- Address1006 S Orange Drive Los Angeles CA
- AreaC18 – Hancock Park-Wilshire
- CityLos Angeles
- CountyLos Angeles
- Zip Code90019
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1006 S Orange Drive
Los Angeles, CA
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