Seller's Agent in 2024
Maribel Benitez
Compass-Pasadena
(626) 497-5620
1 in this area
80 Total Sales
914 Orme Ave Los Angeles, CA 90023
10
Beds
10
Baths
5,090
Sq Ft
0.27
Acres
Highlights
- 0.27 Acre Lot
- Private Yard
- Level Lot
- Felicitas and Gonzalo Mendez High Rated A-
- Laundry Room
- 2-minute walk to Boyle Heights Sports Center and Park
About This Home
As of August 2024914 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.
Last Agent to Sell the Property
Compass-Pasadena Brokerage Phone: 626-497-5620 License #01866825 Listed on: 05/23/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1924
Lot Details
- 0.27 Acre Lot
- 1 Common Wall
- Level Lot
- Private Yard
Parking
- On-Street Parking
Home Design
- Property Attached
Interior Spaces
- 5,090 Sq Ft Home
- 1-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 10 Bedrooms
- 10 Bathrooms
Additional Features
- Urban Location
- Private Water Source
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas, sewer, trash collection
- Tax Lot 74
- Tax Tract Number 2047
- Assessor Parcel Number 5189011038
- $1,313 per year additional tax assessments
Community Details
Overview
- 9 Buildings
- 10 Units
Building Details
- 8 Leased Units
- Rent Control
- 10 Separate Electric Meters
- 10 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $3,629
- Water Sewer Expense $6,000
- New Taxes Expense $14,975
- Operating Expense $27,611
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/22/2024 08/22/24 | Sold | $1,220,000 | +1.8% | $240 / Sq Ft |
| 06/06/2024 06/06/24 | Pending | -- | -- | -- |
| 05/23/2024 05/23/24 | For Sale | $1,198,000 | -- | $235 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Maribel Benitez
-
Kelly Tran
Seller Co-Listing Agent in 2024
Kelly Tran
Compass
(626) 379-8447
1 in this area
80 Total Sales
-
Kiet Do
K
Buyer's Agent in 2024
Kiet Do
KO TAI REALTY
(626) 823-0067
2 in this area
25 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: WS24101288
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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