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914 Orme Avenue
Los Angeles, CA 90023
Sold
914 Orme Ave is a 10-unit residential income community in Boyle Heights, 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 offer significant returns. Each unit has 1 bed 1 bath, its own laundry room, individual electric & gas meters and some DTLA views. Two units will be delivered VACANT. At $120,000 per unit, the offering provides savvy investors a unique 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.
PROPERTY INFORMATION
| MLS # | WS24101288 | Lot Size | 11,749 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 1,198,000
Price Per SqFt: $ 235 |
DOM | 346 Days |
| Address | 914 Orme Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 5,090 Sq. Ft. |
| Postal Code | 90023 | Garage | N/A |
| County | Los Angeles | Year Built | 1924 |
| Bed / Bath | 10 / 0 | Parking | N/A |
| Built In | 1924 | Status | Closed |
| Sold Date | 2024-08-22 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Individual Room |
| EntryLocation | 1 |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,278
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 08/22/2024 | Sold | $1,220,000 |
| 06/10/2024 | Pending | $1,198,000 |
| 05/23/2024 | Listed | $1,198,000 |
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Listing provided courtesy of MARIBEL BENITEZ, Compass-Pasadena. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
