$1198000 Price Analysis   ♡   Los Angeles, CA 90023 10 bed 10 bath 5090 SqFt ($235/SqFt) 0.27 acre lot. Built 1924 Listed 2024-05-24, Taxes $2390 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
914 Orme Ave is a 10-unit residential income community in Boyle Heights
* Sale Pending *Los Angeles with a total of 9 separate structures measuring 5, 090 sf of living space on a 11, 749 sf lot. Comprised of 8 individual Spanish Style Bungalows + 1 Duplex and a central courtyard, this mini compound may offr significant returns. Each unit has 1 bed 1 bath, its own laundry room, individual electric and gas meters and some DTLA views. Two units will be delivered VACANT. At $120, 000 per unit, the offering provides savvy investors a uniq ue opportunity to purchase a premium asset with strong (+/-72%) projected upside in market rents and value-add potential.
In one of the strongest rental markets in LA, this property enjoys close proximity to the Financial District, Sixth St Bridge, the Arts District, USC Keck Hospital, Union Station, DTLA, LA Convention Center, Dodger Stadium and convenient access to the 5, 10, 60, 101 and 710 fwys. Exciting projects, such as the 6th St Viaduct PARC (Parks, Arts, River and Connectivity Improvements) is underway. A projected 12-acre park will span below the 6th St Bridge connecting Boyle Heights with the Arts District and the LA River. The new space will create dog parks, a skate park, a performing arts plaza, soccer fields, a playground and open green space. First time on the market in 55+ years, this is your chance to take the property to the next level. Sold as-is.
Presented by MARIBEL BENITEZ at
COMPASS.
Property MLS #WS24101288 from CRMLS
Lot Size Acres: 0.2697
Lot Size Source: Assessor
Lot Size Square Feet: 11749
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 1
Bedrooms in Unit-5: 1
Bedrooms in Unit-6: 1
Bedrooms in Unit-7: 1
Bedrooms in Unit-8: 1
Bedrooms in Unit-9: 1
Bedrooms in Unit-10: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Total Bathrooms in Unit-7: 1
Total Bathrooms in Unit-8: 1
Total Bathrooms in Unit-9: 1
Total Bathrooms in Unit-10: 1
Tenant Pays: Cable TV, Electricity, Gas, Sewer, Trash Collection
Rent Control: Yes
County: Los Angeles
Source Property Type: Residential Income
Insurance Expense: 3629.30
Area: BOYH - Boyle Heights
Source Neighborhood: BOYH - Boyle Heights
New Taxes Expense: 14975.00
Number of Separate Electric Meters: 10
Number of Separate Gas Meters: 10
Number of Separate Water Meters: 1
Parcel Number: 5189011038
Postal Code Plus 4: 1415
Zoning: LAR2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $65117 + $28155 $93272 | $2390 |
| 2021 | $63841 + $27603 $91444 | $2339 |
| 2020 | $63187 + $27320 $90507 | $2344 |
| 2019 | $61949 + $26785 $88734 | $2300 |
| 2018 | $60735 + $26260 $86995 | $2109 |
| 2017 | $59545 + $25746 $85291 | $2038 |
| 2016 | $58378 + $25242 $83620 | $1940 |
| 2015 | $57502 + $24863 $82365 | $1926 |
| 2014 | $56376 + $24376 $80752 | $2003 |
| 2013 | $56122 + $24266 $80388 | $2003 |
| 2012 | $55022 + $23791 $78813 | $2023 |
| 2010 | $53944 + $23325 $77269 | $1930 |
| 2009 | $53669 + $23207 $76876 | $1864 |
| 2009 | $53541 + $23151 $76692 | $1864 |
| 2008 | $52617 + $22752 $75369 | $1823 |
| 2007 | $51586 + $22306 $73892 | $1758 |
$1198000
CRMLS
Sold 1968-04-08
$38500
Public Record
Year Built: 1924
Building Features: 9
Common Walls: 1 Common Wall
Entry Level: 1
Entry Location: 1
Property Age: 100
Property Attached: Yes
Levels or Stories: One
Building Total Stories: 1
Structure Type: Commercial/Residential
Year Built Source: Assessor
Water Source: Private
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.