$6,950,000 Price Analysis   ♡   West Hollywood, CA 90048 28 bed 29 bath 15,010 SqFt ($463/SqFt) 0.26 acre lot. Built 1962 Listed 2024-06-26, Taxes $23,547 | Ⓧ USDA Ineligible due to price & location near West Hollywood |
540 Orlando Avenue
An A+ West Hollywood location three blocks east of La Cienega Blvd and south of Melrose Ave; this garden-style apartment building was constructed in 1962 and totals 17 units. 540 Orlando Ave f eatures a unit mix made up of five one-bedrooms, 11 two-bedrooms and one three-bedroom with 18 gated parking spaces; one of the one-bedrooms plus the one-bedroom ADU will be delivered vacant at the close of escrow; the ADU has been built and is waiting on final inspection. Opportunity for an investor to purchase a value-add asset in a premiere location with below market rents and implement an interior renovation strategy to achieve market rents as units turn and capture over 27% rental upside. The property has been well maintained throughout the years with professional landscaping, newer windows and a welcoming common area courtyard with seating; some of the unit interiors feature recessed lighting, wall AC's, tile floors and updated bathrooms; further interior renovations that could enhance rents include updated kitchens and appliances, laundry in-units and high-quality vinyl flooring.
The building is separately metered for gas and electric; additionally, there is a community laundry room with two washers and two dryers. Impeccable Walk Score of 97, tenants are walking distance from high-end restaurants on Melrose Ave and La Cienega Blvd such as EP and LP, Catch LA and Urth Caffe, among others; the property is located less than a mile from the Beverly Center and Cedars Sinai Medical Center and one and a half miles from The Grove community known for being highly walkable, providing an array of amenities within a half-mile radius, the property has a walk score of 86 and is within walking distance to S La Cienega, W Pico and W Olympic Blvd with high-end retail options for residents. Ideally located to commute to major employment hubs in West Hollywood, Beverly Hills, Century City and Hollywood: walking distance to the Pacific Design Center, a 1.6 MM SF multi-use facility fr the design community.
Presented by Neema Ahadian at
Marcus & Millichap.
Property MLS #24-408589 from TheMLSCLAW
Full Bathrooms: 29
Lot Size Dimensions: 100x115
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 11479
Calculated Total Monthly Association Fees: 0
Number of Units: 17
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 13975, 2 BedsTotal: 2, 2 BathsTotal: 2, 2 SquareFeet: 41745, 3 BedsTotal: 3, 3 BathsTotal: 2, 3 SquareFeet: 4500
County: Los Angeles
Directions: Located three blocks eastof La Cienega Blvd and south of Melrose Ave.
Source Property Type: Residential Income
Area: West Hollywood Vicinity
Source Neighborhood: West Hollywood Vicinity
Parcel Number: 5528-014-047
Zoning: WDR3C
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,090,884 + $579,288 $1,670,172 | $23,547 |
| 2021 | $1,069,495 + $567,930 $1,637,425 | $23,825 |
| 2020 | $1,058,529 + $562,107 $1,620,636 | $23,974 |
| 2019 | $1,037,774 + $551,086 $1,588,860 | $23,098 |
| 2018 | $1,017,426 + $540,281 $1,557,707 | $22,763 |
| 2017 | $997,477 + $529,688 $1,527,165 | $22,307 |
| 2016 | $977,919 + $519,302 $1,497,221 | $21,691 |
| 2015 | $963,230 + $511,502 $1,474,732 | $21,391 |
| 2014 | $944,362 + $501,483 $1,445,845 | $21,470 |
| 2013 | $940,094 + $499,217 $1,439,311 | $21,422 |
| 2012 | $921,661 + $489,429 $1,411,090 | $21,538 |
| 2010 | $903,590 + $479,833 $1,383,423 | $20,923 |
| 2009 | $898,968 + $477,379 $1,376,347 | $20,139 |
| 2009 | $896,837 + $476,247 $1,373,084 | $20,139 |
| 2008 | $881,342 + $468,019 $1,349,361 | $19,410 |
| 2007 | $864,061 + $458,843 $1,322,904 | $18,779 |
$6,950,000
TheMLSCLAW
Price Changed 2024-07-24
$7,250,000
TheMLSCLAW
Listed 2024-06-26
$7,500,000
TheMLSCLAW
Listing removed 2024-04-03
$0
TheMLSCLAW
Listed 2024-02-01
$7,800,000
TheMLSCLAW
Listing removed 2014-01-24
$2,080
WestsideRentals
Listed for rent 2014-01-11
$2,080
WestsideRentals
Listing removed 2014-01-06
$1,975
WestsideRentals
Listed for rent 2014-01-04
$1,975
WestsideRentals
Sold 1997-11-05
$1,110,000
Public Record
Sold 1977-06-01
$545,000
Public Record
Year Built: 1962
Levels: Multi Levels
Living Area Source: Vendor Enhanced
Property Age: 62
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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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.