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$2,295,000
Est. payment /mo
8 Beds
4 Baths
5,985 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,985 sqft
Price per Sqft $383
MLS Listing ID 25534539
Bedrooms 8
HOA Y/N No
Year Built 1928
Lot Size 6,372 Sqft
Property Description
We are excited to present a unique opportunity to purchase 351 N Orange Grove Ave, a fully occupied 4-unit apartment building centrally located in the highly sought-after Miracle Mile district of Los Angeles & next to West Hollywood. Constructed in the late 1920s with a Spanish architectural flair, the property offers a gross square footage of approximately 5,985 and is situated on a 6,373 sq ft lot. This property includes two spacious 2-bedroom, 1-bathroom unit downstairs, and two large 2-bedroom, 1-bathroom units upstairs, each approximately 1,500 sq ft. A key highlight is the full potential of the property for renovations enabling investors to realize the property's full income potential after their renovation is completed. The asset benefits from its designation within an HPOZ (Historic Preservation Overlay Zone), offering potential tax advantages, and also benefits from favorable R3 and TOC zoning, depending on HPOZ restrictions (buyer to verify). 351 N Orange Grove is optimally located just north of Beverly Blvd and The Grove, in the heart of Miracle Mile - an area renowned for its cultural, dining, and shopping amenities. With a Walk score of 92, the neighborhood is a veritable "walker's paradise", offering residents an array of nearby conveniences and an outstanding quality of life. It's approximately 1/2 mile from The Grove, LA's premier shopping and dining destination, featuring a mix of high-end retailers and unique boutiques, alongside world-class dining options, offering a desirable lifestyle for potential tenants. Just a block away from CBS studios. This property, with its historic charm, substantial square footage, zoning advantages, and superior location, offers an exceptional investment opportunity to maximize income potential and capital appreciation in the highly coveted Miracle Mile area.
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Zoning LAR3
Interior
Heating Forced Air
Fireplace No
Appliance Refrigerator, Dryer, Washer
Exterior
Parking Features None
Building
Story 2
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5527037010
Special Listing Condition Standard
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Listed by Vangelis Korasidis • Coldwell Banker Realty