351 N Orange Grove Ave 4 Unit Apartment Building $2,195,000 ($548,750/Unit) 3.45% Cap Rate Los Angeles, CA 90036

We are excited to present a unique opportunity to purchase 351 N Orange Grove Ave, a fully occupied 4-unit apartment building centrally located in the highly sought-after Miracle Mile district of Los Angeles & next to West Hollywood. Constructed in the late 1920s with a Spanish architectural flair, the property offers a gross square footage of approximately 5,985 and is situated on a 6,373 sq ft lot. This property includes two spacious 2-bedroom, 1-bathroom unit downstairs, and two large 2-bedroom, 1-bathroom units upstairs, each approximately 1,500 sq ft. A key highlight is the full potential of the property for renovations enabling investors to realize the property's full income potential after their renovation is completed. The asset benefits from its designation within an HPOZ (Historic Preservation Overlay Zone), offering potential tax advantages, and also benefits from favorable R3 and TOC zoning, depending on HPOZ restrictions (buyer to verify). 351 N Orange Grove is optimally located just north of Beverly Blvd and The Grove, in the heart of Miracle Mile - an area renowned for its cultural, dining, and shopping amenities. With a Walk score of 92, the neighborhood is a veritable "walker's paradise", offering residents an array of nearby conveniences and an outstanding quality of life. Located approximately 1/2 mile from The Grove, LA's premier shopping and dining destination, which features a mix of high-end retailers and unique boutiques alongside world-class dining options, the property offers a desirable lifestyle for potential tenants. Just a block away from CBS studios, this property offers historic charm, substantial square footage, zoning advantages, all in a superior location. Maximize income potential and capital appreciation with this asset in the highly coveted Miracle Mile area. Motivated seller!