120 North Orlando Avenue
Los Angeles, CA, 90048 $ 2,250,000
Baths0.0 Sq 3,988 Monthly Estimate*
$ 15,717
Studio
for $2,250,000. This 3,988 square foot home was built in 1937 on a lot size of 0.15.
REDUCED! Triplex with Development Potential in Beverly Grove! Trophy-location with an ideal unit mix of all 2-bedroom units and approximately 26% upside in rents, potential to add ADU(s) at the rear of the property either in place of, or above, the freestanding garages. The property is zoned LAR3 and designated TOC Tier 2 allowing for up to 13 units in a redevelopment (buyer to verify). Located in the neighborhood of Beverly Grove, this site is central to an extensive list of amenities, attractions, and other popular Los Angeles neighborhoods like West Hollywood, Century City, and Beverly Hills. Its ideal location, walkability, and easy access to public transport make this a highly sought-after neighborhood for renters. There are a dense number of commercial retail spaces, multifamily properties, single family homes, schools, museums, and plenty more that keep this area vibrant and busy. Beverly Grove has continued to thrive in recent years, still known as a premier shopping destination, home to the most notable restaurants, and close to world famous streets like Melrose and Fairfax. Close to the most trendy shops, restaurants, and only a short drive to surrounding employment hubs makes this a magnet for young professionals looking for a fun and centralized neighborhood. Many residents work in the entertainment industry due to its proximity to major film studios, which gives this area an art-focused personality. Many art galleries line the streets of Melrose, some high-end and some catering to the thrift-focused demographic of this area. Trendy second hand purchasing thrives here, thanks to the many famous thrift stores and popular markets like Melrose Trading Post Flea Market where locals and tourists enjoy endless vendors. For those without a shopping interest, popular restaurants like Joan's on Third, The Little Door, NORMS, The Nice Guy, The Ivy, and much more are just blocks away.
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FeaturesGeneralCooling Central Air
Zoning LAR3
Year Built 1937
Levels Two
County Los Angeles
Net Operating Income 59689.0
New Construction No
Property Type C
HOA / Comm Assn No
Contingency Active Under Contract
Status Active Under Contract
City Los Angeles
Buyer Agent Compensation 2.50
Senior Community Y/N No
MLS Area C19 - Beverly Center-Miracle Mile
Lot Size Square Feet 6377.0
Street Name Orlando
Standard Status Active Under Contract
Buyer Agent Compensation Type %
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ExteriorParking Features Gated
Lot Size Area 6377.0
Building Area Total 3988.0
Lot Size Acres 0.15
Lot Size Units Square Feet
Land Lease Type Fee
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InteriorTotal Stories 2
Air Conditioning Y/N Yes
Street Suffix Avenue
Total Baths 0
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* Excluded FeaturesList ByAdam PetersonListing Agent
Cb Richard Ellis, Inc.Broker
Affordability Calculator
- Monthly Principal & Interest
- $15,717
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $2,020,253
Percent of Sale Price 10%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
793437 Elementary School
793428 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
2/20/2024 | $2,250,000 | -6.21% | Price Down |
1/16/2024 | $2,399,000 | -4.73% | Price Down |
11/11/2023 | $2,518,000 | | Listed Price |