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356 - 366 N Orange Grove Avenue

Los Angeles (City), CA 90036
  • $5,750,000
  • STATUS: Active Under Contract
  • ON SITE: 225 Days
  • ID#: 23307653
Under Contract
$5,750,000
  • 24
    BEDS
  • 0.44
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 19,149
    SQFT
  • $300
    $/SQFT
Type:
Multi-Family
Built:
1927
County:

School Ratings & Info

Listing Agent(s): Saadia 'Sam' Liberow of Marcus & Millichap (818-212-2700)


Description

The Orange Grove Portfolio - 356, 360, 366 N Orange Grove Ave, represents an extraordinary opportunity to purchase assets that haven't been available for sale in over 50 years! It's a one-of-a-kind chance that will allow the astute investor to purchase 3 contiguous parcels located within a highly desirable sub-market characterized by affluent demographics and substantial barriers to entry. This expansive 19,201 square-foot property, spread across three contiguous parcels, represents an exceptional investment opportunity with its LAR3 zoning providing a solid foundation for various residential development projects. Additionally, its Tier 3 classification within the Transit Oriented Communities (TOC) program offers strategic benefits, including density bonuses, height incentives, and potential parking reductions, making it an ideal canvas for high-value multi-unit housing or innovative urban developments. Per our calculations, a buyer can build up to twenty-eight (28) units (buyer to verify).

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-19T18:28:35.703. 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 deemed reliable but is not guaranteed accurate by the MLS or Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.
www.socalrealtyexpert.com/homes/143186857
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356 - 366 N Orange Grove Avenue Los Angeles (City), CA 90036

  • Price: $5,750,000
  • Status: Active Under Contract
  • On Site: 225 Days
  • ID#: 23307653
24
Beds
0
Baths
0
½ Baths
0.44
Acres
19,149
SQFT
$300
$/SQFT
1927
Built
Neighborhood:
C19 - Beverly Center-Miracle Mile
County:
Los Angeles
Area:
C19 - Beverly Center-Miracle Mile
Property Description
The Orange Grove Portfolio - 356, 360, 366 N Orange Grove Ave, represents an extraordinary opportunity to purchase assets that haven't been available for sale in over 50 years! It's a one-of-a-kind chance that will allow the astute investor to purchase 3 contiguous parcels located within a highly desirable sub-market characterized by affluent demographics and substantial barriers to entry. This expansive 19,201 square-foot property, spread across three contiguous parcels, represents an exceptional investment opportunity with its LAR3 zoning providing a solid foundation for various residential development projects. Additionally, its Tier 3 classification within the Transit Oriented Communities (TOC) program offers strategic benefits, including density bonuses, height incentives, and potential parking reductions, making it an ideal canvas for high-value multi-unit housing or innovative urban developments. Per our calculations, a buyer can build up to twenty-eight (28) units (buyer to verify).
Exterior Features

Parking Features None Parking Total 15

Interior Features

Cooling None Cooling YN No Heating None Heating YN No

Property Features

Association YN No Cap Rate 4.35 Gross Income 434929 Levels Two Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 250114 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-19T18:28:35.703. 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 deemed reliable but is not guaranteed accurate by the MLS or Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.
 
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Robin McCann | EXIT Alliance Realty
43521 Rige Park Drive, Suite 201
Temecula CA, 92590
Listing Agent(s): Saadia 'Sam' Liberow of Marcus & Millichap (818-212-2700)