5 Unit New Construction in Mid City 1414 S Orange Dr 5 Unit Apartment Building $3,195,000 ($639,000/Unit) 6.22% Cap Rate Los Angeles, CA 90019

We are pleased to present 1414 S Orange Drive, a 2021-construction, five-unit multifamily investment opportunity located in the heart of Mid City, Los Angeles. Situated on a 7,002-square-foot LARD1.5-zoned lot, the property features approximately 7,456 square feet of improvements across three buildings and offers an attractive, high-income unit mix consisting of two 4-bedroom/4.5-bathroom units, one 3-bedroom/3.5-bathroom unit, and two 3-bedroom/2-bathroom units.
Each residence has been thoughtfully designed with spacious open-concept floor plans, high ceilings, oversized kitchen islands or peninsulas, premium stainless steel appliances, sleek bathrooms with marble finishes, in-unit laundry rooms with washers and dryers included, and modern high-end fixtures throughout.
All five units are fully leased, demonstrating strong rental demand in this highly walkable Mid City location. Offered at $3,195,000, the property delivers an actual 5.92% cap rate and 12.5 GRM, equating to approximately $639,000 per unit and $429 per square foot. These metrics position 1414 S Orange Drive as one of the most competitively priced newer-construction five-unit multifamily assets in the submarket.
The property offers an efficient operating structure, with tenants responsible for all utilities and each unit separately metered for gas, electricity, and water, helping reduce operating expenses and maximize net operating income. Parking is abundant, with five tandem garages and five additional exterior parking spaces.
Ideally located just minutes from popular restaurants, cafés, retail, entertainment, and major employment centers, 1414 S Orange Drive represents an exceptional opportunity for investors seeking strong current cash flow, modern construction, and a low-maintenance multifamily asset in one of Los Angeles’ most desirable rental corridors. The property is well suited for a 1031 exchange buyer or any investor seeking attractive yield and long-term value.
The property is subject to the Los Angeles Rent Stabilization Ordinance (RSO). Buyer to independently verify all information.