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944 N Orange Grove Ave 19 Unit Apartment Building $5,200,000 ($273,684/Unit) 5.64% Cap Rate Los Angeles, CA 90046
Investment Highlights
- 1st Time to be Sold in Over 38 Years!
- 1 Non-Conforming Unit Currently Used As Storage - Potential ADU Opportunity!
- Property Offers Swimming Pool, On Site Laundry & Parking For Tenants
- Excellent Unit Mix offering 1 & 2 Bedroom Units
- Spacious Units Averaging Approx. 937 SF Each
- 20 On Site Parking Spaces Offering a 1:1 Parking to Unit Count Ratio
Executive Summary
944 N Orange Grove Avenue presents an opportunity to acquire a multifamily asset in one of Los Angeles' most desirable residential neighborhoods. Located near the intersection of West Hollywood, Beverly Grove, and the Fairfax District, the property benefits from immediate access to some of the region's most prominent retail, dining, entertainment, and employment destinations.
The property is situated within a highly walkable urban environment that attracts a diverse tenant base seeking proximity to lifestyle amenities and major business centers. Residents enjoy convenient access to Melrose Avenue, Santa Monica Boulevard, Sunset Boulevard, The Grove, Beverly Center, and the Fairfax retail corridor. The surrounding area is characterized by a mix of multifamily residences, boutique commercial properties, and established residential neighborhoods that support long-term housing demand.
Its central location provides efficient connectivity to West Hollywood, Beverly Hills, Hollywood, Century City, and Downtown Los Angeles via major surface streets and regional transportation networks. Nearby employment concentrations in the entertainment, media, healthcare, technology, hospitality, and professional services sectors continue to drive residential demand throughout the area.
The combination of a highly sought-after infill location, proximity to major economic drivers, and access to premier lifestyle amenities positions 944 N Orange Grove Avenue as a compelling multifamily investment opportunity within one of Southern California's most established residential markets. Investors benefit from a location supported by limited housing availability, strong renter demand, and enduring neighborhood appeal.
The property is situated within a highly walkable urban environment that attracts a diverse tenant base seeking proximity to lifestyle amenities and major business centers. Residents enjoy convenient access to Melrose Avenue, Santa Monica Boulevard, Sunset Boulevard, The Grove, Beverly Center, and the Fairfax retail corridor. The surrounding area is characterized by a mix of multifamily residences, boutique commercial properties, and established residential neighborhoods that support long-term housing demand.
Its central location provides efficient connectivity to West Hollywood, Beverly Hills, Hollywood, Century City, and Downtown Los Angeles via major surface streets and regional transportation networks. Nearby employment concentrations in the entertainment, media, healthcare, technology, hospitality, and professional services sectors continue to drive residential demand throughout the area.
The combination of a highly sought-after infill location, proximity to major economic drivers, and access to premier lifestyle amenities positions 944 N Orange Grove Avenue as a compelling multifamily investment opportunity within one of Southern California's most established residential markets. Investors benefit from a location supported by limited housing availability, strong renter demand, and enduring neighborhood appeal.
Property Facts
| Price | $5,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $273,684 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 5.64% | Building Size | 17,795 SF |
| Gross Rent Multiplier | 10.7 | No. Stories | 2 |
| No. Units | 19 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.12/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | WDR3C* - Restricted Density Multiple Dwelling | ||
| Price | $5,200,000 |
| Price Per Unit | $273,684 |
| Sale Type | Investment |
| Cap Rate | 5.64% |
| Gross Rent Multiplier | 10.7 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 17,795 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.12/1,000 SF |
| Zoning | WDR3C* - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 6 | - | 1,100 |
| 1+1 | 12 | - | 805 |
| 2+1.5 | 1 | - | 1,100 |
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Very walkable
80/100
Fairly drivable
50/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5530-026-002 | Improvements Assessment | $1,415,502 |
| Land Assessment | $693,094 | Total Assessment | $2,108,596 |
Property Taxes
Parcel Number
5530-026-002
Land Assessment
$693,094
Improvements Assessment
$1,415,502
Total Assessment
$2,108,596
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944 N Orange Grove Ave