537 N Orange Dr new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90036
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,630 sqft
Price per Sqft $707
MLS Listing ID 25540681
Style Cottage
Bedrooms 10
Year Built 1927
Lot Size 0.341 Acres
Acres 0.341
Property Sub-Type Multi-Family
Property Description
Nestled on a picturesque tree-lined street just south of Melrose and west of Highland, The Orange Drive Residences is a rare and coveted offering in the heart of historic Hancock Park. This exceptional property features 10 individually renovated units across seven charming bungalow-style structures, all arranged around a serene and beautifully manicured central courtyard on a generous 14,850 SF lot. Built in 1927 and thoughtfully reimagined in the early 2000s, each residence effortlessly blends classic architecture with modern comforts. These spacious 1-bedroom, 1-bathroom cottages offer the privacy and ambiance of a single-family home, with vaulted ceilings and versatile loft-style bonus spaces perfect for a second bedroom, creative studio, or office. Highlights of renovations include:Designer-updated kitchens and bathrooms, Stylish hardwood flooring and finishes, In-unit washer/dryers and airconditioning, Lush landscaping and private entrancesImportantly, the property is exempt from LA City rent control and AB 1482, positioning it as a rare investmentopportunity with strong in-place income and room for rent growth. Additionally, two existing garages present a value-add opportunity with ADU conversion potential, further enhancing revenue.The Orange Drive Residences is more than an income propertyit's a trophy asset that offers both timeless character and modern appeal in one of LA's most enduringly desirable neighborhoods. This property would be a a true generational asset, and a jewel in any sophisticated commercial real estate investor's portfolio.
Location
State CA
County Los Angeles
Area Hancock Park-Wilshire
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating Electric, Other
Cooling Air Conditioning
Equipment Dishwasher, Washer, Dryer, Range/Oven, Refrigerator
Laundry In Unit
Exterior
Parking Features Driveway, Garage
Garage Spaces 4.0
Building
Lot Description 5 + Lots
Story 1
Architectural Style Cottage
Level or Stories One
Others
Special Listing Condition Standard