$4,995,000
$400K PRICE DROP

Estimated payment $32,158/month

Total Views 3,256
10 Beds
10 Baths
7,630 Sq Ft
$655 Price per Sq Ft

Highlights

  • Cottage
  • Heating Available
  • 1-Story Property
  • 4 Car Garage

About This Home

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.

Listing Agent

Dave Miller

Miller & Desatnik Realty Co. License #02105346 Listed on: 05/19/2025

Co-Listing Agent

Errol Spiro

Miller & Desatnik Realty Co. License #00893163

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1927

Lot Details

  • 0.34 Acre Lot
  • Lot Dimensions are 100x148

Parking

  • 4 Car Garage
  • Driveway

Home Design

  • Cottage

Interior Spaces

  • 7,630 Sq Ft Home
  • 1-Story Property

Kitchen

  • Oven or Range
  • Dishwasher

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Utilities

  • Heating Available

Community Details

  • 7 Buildings
  • 10 Units

Listing and Financial Details

  • Assessor Parcel Number 5525-019-002

Property Details

Home Type

Multi-Family

Year Built

Built in 1927

Lot Details

0

Parking

4

Listing Details

  • Property Type: Residential Income
  • Style: Cottage
  • Levels: One
  • Street Number Display: Yes
  • Living Area: 7630
  • Lot Acreage: 0.3410
  • Lot Dimensions: 100x148
  • Stories: 1
  • Year Built: 1927
  • Number Of Photos: 36
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 10
  • Laundry: In Unit
  • Total Bathrooms: 10.00
  • Equipment: Dishwasher, Washer, Dryer, Range/Oven, Refrigerator
  • Price Per S Q F T: 654.65

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 4
  • Parking Garage: Driveway, Garage
  • Total Parking: 4

Utilities

  • Cooling: Air Conditioning
  • Heating: Electric

Lot Info

  • Assessed Improvement Percent: 23.58
  • Assessed Improvement Value: 1316106
  • Assessed Land Percent: 76.42
  • Assessed Land Value: 4265640
  • Total Assessed Value: 5581746
  • Assessor Parcel Number: 5525-019-002
  • Lot Description: 5 + Lots
  • Lot Size Area: 14854

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 13.82
  • Number Of Units: 10
  • Total Annual Expense: 116398
  • Type Of Units: Apartment
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 1

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/24/2025 06/24/25 Price Changed $4,995,000 -7.4% $655 / Sq Ft
05/19/2025 05/19/25 For Sale $5,395,000 +24.0% $707 / Sq Ft
04/16/2018 04/16/18 Sold $4,350,000 0.0% $710 / Sq Ft
01/21/2018 01/21/18 Pending -- -- --
01/16/2018 01/16/18 For Sale $4,350,000 -- $710 / Sq Ft
Source: The MLS

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Source: The MLS

MLS Number: 25540681

The MLS