537 Orange Drive, Los Angeles, CA 90036
  • MLS#: 25540681 ( )
  • Street Address: 537 Orange Drive
  • Viewed: 4
  • Price: $5,395,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1927
  • Bldg sqft: 0
  • Days On Market: 19
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90036
  • Provided by: Miller & Desatnik Realty Co.
  • Contact: David David
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Nestled on a picturesque tree lined street just south of Melrose and west of Highland, The Orange Drive Residences is a rare and coveted offering in the heart of historic Hancock Park. This exceptional property features 10 individually renovated units across seven charming bungalow style structures, all arranged around a serene and beautifully manicured central courtyard on a generous 14,850 SF lot. Built in 1927 and thoughtfully reimagined in the early 2000s, each residence effortlessly blends classic architecture with modern comforts. These spacious 1 bedroom, 1 bathroom cottages offer the privacy and ambiance of a single family home, with vaulted ceilings and versatile loft style bonus spaces perfect for a second bedroom, creative studio, or office. Highlights of renovations include:Designer updated kitchens and bathrooms, Stylish hardwood flooring and finishes, In unit washer/dryers and airconditioning, Lush landscaping and private entrancesImportantly, the property is exempt from LA City rent control and AB 1482, positioning it as a rare investmentopportunity with strong in place income and room for rent growth. Additionally, two existing garages present a value add opportunity with ADU conversion potential, further enhancing revenue.The Orange Drive Residences is more than an income propertyit's a trophy asset that offers both timeless character and modern appeal in one of LA's most enduringly desirable neighborhoods. This property would be a a true generational asset, and a jewel in any sophisticated commercial real estate investor's portfolio.
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Features
Appliances
  1. Dishwasher
  2. Refrigerator
Architectural Style
  1. Cottage
Building Area Total
  1. 7630.00
Country
  1. US
Garage Spaces
  1. 4.00
Heating
  1. Electric
Laundry Features
  1. Washer Included
  2. Dryer Included
Levels
  1. One
Netoperatingincome
  1. 234141.00
Parcel Number
  1. 5525019002
Parking Features
  1. Driveway
  2. Garage
Postalcodeplus4
  1. 2067
Sourcesystemkey
  1. 25540681:CLAW
Totalexpenses
  1. 116398.00
Year Built
  1. 1927
Zoning
  1. LARD1.5