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1411 Orchard Ave, Los Angeles, CA 90006
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1411 Orchard Ave Los Angeles, CA 90006

$1,600,000 Sold Price as of 09/26/2022
  • 9 Beds
  • 5 Baths
  • 4,337 Sq.Ft.
Sold
$1,600,000 Sold Price as of 09/26/2022 Refinance Your Mortgage
Map preview of 1411 Orchard Ave, Los Angeles, CA 90006

Property Overview: 1411 Orchard Ave Los Angeles, CA has 9 bedrooms, 5 bathrooms, 4,337 living square feet and 6,623 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: KW Commercial, as exclusive listing agents are pleased to present 1411 Orchard Avenue, a 5-unit property with stamped Ready to Issue (RTI) plans for three more units located in the Koreatown adjacent Pico-Union submarket. Built in 1924, the main structure features (2) 3 Bedroom / 1 Bathroom units, (1) 1 Bedroom / 1 Bathroom unit and (1) Studio unit. Behind the main structure sits a detached house with 2 Bedrooms / 1 Bathroom. One of the 3 Bedroom units, and the 2 Bedroom House were fully renovated in 2021, and come equipped with beautiful laminate wood floors, stainless steel appliances, new windows, new wall A/C and heating units, and new bathroom vanities. The property is highlighted by the upside opportunity immediately available as there are THREE Accessory Dwelling Units (ADU) that are RTI providing an amazing and immediate value-add opportunity. Two of the ADUs are garage conversions and one unit in the main structure is a non-conforming 1 Bedroom/ 1 Bathroom with RTI plans to be permitted, this unit will be delivered vacant at the close of escrow.

Listed by Archie Robb | BRE #02002291 | Keller Williams Studio City
Co-listed by Rich Johns | BRE #01432215 | KW Commercial Studio City
Last checked: 8 minutes ago | Last updated: November 22nd, 2023 | Source CRMLS | DOM: 14

Home details

Lot Sq. Ft
6,623
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22178991
City
Los Angeles
County
Los Angeles
Time on Site
710 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $950
  • Total Rent: $950
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,495
  • Total Rent: $2,495
  • Pro Forma/Market Rent: $2,595
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,754
  • Total Rent: $1,754
  • Pro Forma/Market Rent: $2,595
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,595
  • Total Rent: $2,595
  • Pro Forma/Market Rent: $2,595
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,450
  • Total Rent: $1,450
  • Pro Forma/Market Rent: $1,550
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.43%
  • Gross Rent Multiplier: 14.87
  • Gross Scheduled Income: --
  • Net Operating Income: $73,155
  • Gross Operating Income: $107,600
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1411 Orchard Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
  • Refrigerator
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 5
  • Parcel Number: 5056003009
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Google Maps. East of Vermont, South of Pico.
View more facts & features

Local Los Angeles Agent

Sale History for 1411 Orchard Ave

Last sold for $1,600,000 on September 26th, 2022

  • November, 2023

  • Nov 22, 2023

    Date

    Canceled

    CRMLS: DW23160359

    $1,920,000

    Price

  • Sep 4, 2023

    Date

    Active

    CRMLS: DW23160359

    $1,995,000

    Price

  • Listing provided courtesy of CRMLS

    A 5-unit property with stamped Ready to Issue (RTI) plans for three more units located in the Koreatown adjacent Pico-Union submarket. Built in 1924, the main structure features (2) 3 Bedroom / 1 Bathroom units, (1) 1 Bedroom / 1 Bathroom unit and (1) Studio unit. Behind the main structure sits a detached house with 2 Bedrooms / 1 Bathroom. One of the 3 Bedroom units, and the 2 Bedroom House were fully renovated in 2021, and come equipped with beautiful laminate wood floors, stainless steel appliances, new windows, new wall A/C and heating units, and new bathroom vanities. The property is highlighted by the upside opportunity immediately available as there are THREE Accessory Dwelling Units (ADU) that are RTI providing an amazing and immediate value-add opportunity. Two of the ADUs are garage conversions and one unit in the main structure is a non-conforming 1 Bedroom/ 1 Bathroom with RTI plans to be permitted. Plumbing work Nearly completed for all 3 ADU's - Definitely A Great Investment Opportunity.

  • November, 2023

  • Nov 22, 2023

    Date

    Canceled

    CRMLS: DW23160365

    $1,920,000

    Price

  • Sep 4, 2023

    Date

    Active

    CRMLS: DW23160365

    $1,995,000

    Price

  • Listing provided courtesy of CRMLS

    A 5-unit property with stamped Ready to Issue (RTI) plans for three more units located in the Koreatown adjacent Pico-Union submarket. Built in 1924, the main structure features (2) 3 Bedroom / 1 Bathroom units, (1) 1 Bedroom / 1 Bathroom unit and (1) Studio unit. Behind the main structure sits a detached house with 2 Bedrooms / 1 Bathroom. One of the 3 Bedroom units, and the 2 Bedroom House were fully renovated in 2021, and come equipped with beautiful laminate wood floors, stainless steel appliances, new windows, new wall A/C and heating units, and new bathroom vanities. The property is highlighted by the upside opportunity immediately available as there are THREE Accessory Dwelling Units (ADU) that are RTI providing an amazing and immediate value-add opportunity. Two of the ADUs are garage conversions and one unit in the main structure is a non-conforming 1 Bedroom/ 1 Bathroom with RTI plans to be permitted. Plumbing work Nearly completed for all 3 ADU's - Definitely A Great Investment Opportunity.

  • September, 2022

  • Sep 26, 2022

    Date

    Sold

    CRMLS: 22178991

    $1,600,000

    Price

  • Jul 14, 2022

    Date

    Active

    CRMLS: 22178991

    $1,650,000

    Price

  • April, 2022

  • Apr 7, 2022

    Date

    Expired

    CRMLS: 21792424

    $1,695,000

    Price

  • Oct 6, 2021

    Date

    Active

    CRMLS: 21792424

    $1,900,000

    Price

  • Listing provided courtesy of CRMLS

    We are proud to present this 6-unit multifamily investment asset at 1411 Orchard Ave. also known as 1410 South Westmoreland Ave. in the continually emerging pocket of Harvard Heights, just a mile or so South of Koreatown. As it currently stands, the property consists of (1) Studio, (2) 1 Bedroom / 1 Bathroom, (2) 3 Bedroom / 1 Bathroom, and (1) 2 Bedroom / 1 Bathroom detached house behind the main structure. One of the 3 Bedroom units, and the 2 Bedroom House were fully renovated in 2021, and come equipped with beautiful laminate wood floors, stainless steel appliances, new windows, new wall A/C and Heating units, and new bathroom vanities. One of the 1 Bedroom units is currently non-conforming, but the Sellers are nearing the finish line of the permitting process, the unit will be delivered permitted and vacant at the close of escrow. With close proximity to both Interstate 10, and the 101 Freeway, tenants residing here will be able to easily access Hollywood, Downtown, and Beach Cities with ease, allowing them to regularly enjoy all the entertainment this vibrant city has to offer within a 20 minute drive from their home. The property will also be delivered with RTI plans to convert the detached garages into (2) detached 1 Bedroom ADU's. Not only will this generate increased rental income for the investor, but will increase the total value of the asset significantly. Another way an investor can create additional value is to install coin laundry on the side yard, for which plumbing was installed during renovations. Charging tenants for parking spaces could also generate increased revenue as well.With the right strategy and execution, a new investor could add even more value to this well-positioned asset that's already undergone significant recent upgrades.

  • April, 2020

  • Apr 1, 2020

    Date

    Expired

    CRMLS: 19525132

    $1,195,000

    Price

  • Mar 5, 2020

    Date

    Withdrawn

    CRMLS: 19525132

    $1,195,000

    Price

  • Jan 30, 2020

    Date

    Price Change

    CRMLS: 19525132

    $1,195,000

    Price

  • Oct 29, 2019

    Date

    Active

    CRMLS: 19525132

    $1,225,000

    Price

  • Listing provided courtesy of CRMLS

    Convenient location to Downtown Los Angeles and Koreatown. Excellent unit mix featuring studios, 1-bedroom, 2-bedroom, and 3-bedroom units.Units have original hardwood flooring. Rare opportunity to offer renters a private garage. Opportunity to combine non-conforming unit with adjacent apartment to create a larger unit

  • July, 2002

  • Jul 23, 2002

    Date

    Sold (Public Records)

    Public Records

    $303,500

    Price

  • August, 2001

  • Aug 7, 2001

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1411 Orchard Ave

Assessed Value (2020): $401,250
Year Land Value Improved Value Assessed Value
2020 $211,882 $189,368 $401,250

Home Value Compared to the Market

This property vs the competition

1411 Orchard Ave sold on September 26, 2022 for 29.51% higher than the current median sold price for the city of Los Angeles which is $1,274,000. The median sold price per/sqft for Los Angeles is $791 and this home is sold at $380.45 per/sqft which puts the price per square foot 51.9% lower than the current median sale per square foot for the city of Los Angeles.

About 1411 Orchard Ave

Detailed summary of property

1411 Orchard Ave is a multi family that recently sold in Los Angeles, CA 90006. This multi family property offered 9 bedrooms, 5 bathrooms, roughly 4,337 living square feet, and sits on an approximately 6,623 square foot lot. 1411 Orchard Ave was first listed on ArdentRealEstateGroup.com on July 26, 2022. The homeowner sold the property for $1,600,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 29.51% higher than the current median priced home. Local homes that are currently for sale include 910 S Catalina St, 920 S Kenmore Ave and 1029 S Normandie Ave. While the average home in Los Angeles, CA is selling in 100 days, 1411 Orchard Ave has a days on market of 14 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 1411 Orchard Ave Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1411 Orchard Ave

Public county record property details
Beds
9
Baths
6
Year built
1924
Sq. Ft.
4,337
Lot Size
6,551
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
10
APN
5056-003-009

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$597
Median Sold Price
$299,000
Median Sold Price/Sq.Ft.
$650
Total Inventory
40
Median Sale to List Price %
100%
Avg Days on Market
13
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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