2622 S Orange Dr, Los Angeles, CA 90016
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2622 S Orange Dr Los Angeles, CA 90016

$1,585,000
  • 9 Beds
  • 5 Baths
  • 3,764 Sq.Ft.
For Sale
$1,585,000 Get Pre-Qualified

Map preview of 2622 S Orange Dr, Los Angeles, CA 90016

Property Overview: 2622 S Orange Dr Los Angeles, CA has 9 bedrooms, 5 bathrooms, 3,764 living square feet and 4,800 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: For sale: Recently Reduced 4-Unit Property in West Adams. This property presents an opportunity to acquire four spacious units with the potential for increased rental revenue. Of the four units, three have been recently renovated, and one remains vacant in impeccable condition. The unit mix comprises one 3-bedroom, 2-bath unit and three 2-bedroom, 1.5-bath units. The property offers ample onsite parking and the potential to convert the parking spaces beneath the building into ADUs (Accessory Dwelling Units), a popular option in the Mid City/West Adams area. Furthermore, this property is situated in an Opportunity Zone, representing a compelling investment opportunity. The presence of a vacant unit may appeal to potential FHA buyers, and investors have the option to lease it at market rents.

Listed by Armin Soleimani | BRE #01846872 | Global Platinum Properties, Inc.
Co-listed by Julio Ruiz | BRE #01911261 | Global Platinum Properties, Inc.
Last checked: 3 minutes ago | Last updated: June 2nd, 2024 | Source CRMLS | DOM: 73
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Home details

Lot Sq. Ft
4,800
HOA Dues
$0/mo
Year built
1966
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24385755
City
Los Angeles
County
Los Angeles
Time on Site
76 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,476
  • Total Rent: $1,476
  • Pro Forma/Market Rent: $1,535
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,062
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,288
  • Total Rent: $2,288
  • Pro Forma/Market Rent: $2,380
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,052
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,052
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5%
  • Gross Rent Multiplier: 14.88
  • Gross Scheduled Income: --
  • Net Operating Income: $79,205
  • Gross Operating Income: $106,500
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 2622 S Orange Dr

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • None
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Laminate
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Ceiling Fan(s)
  • Levels: Two
  • Window Features: Double Pane Windows
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Covered
Lot Information
  • Lot Features: Front Yard
Property Information
  • No View
  • View: None
  • Total # of Units: 4
  • Parcel Number: 5049014006
  • Year Built Source: Assessor
  • Architectural Style: Traditional
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Sewer Paid
  • Water Source: Public
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: From Adams Blvd., turn South onto Orange Drive.
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Sale History for 2622 S Orange Dr

Last leased for $2,200 on July 3rd, 2021
  • April, 2024

  • Apr 29, 2024

    Date

    Active

    CRMLS: 24385755

    $1,595,000

    Price

  • July, 2021

  • Jul 26, 2021

    Date

    Expired

    CRMLS: 20609318

    $2,200

    Price

  • Sep 14, 2020

    Date

    Withdrawn

    CRMLS: 20609318

    $2,200

    Price

  • Jul 25, 2020

    Date

    Active

    CRMLS: 20609318

    $2,200

    Price

  • Listing provided courtesy of CRMLS

  • July, 2021

  • Jul 7, 2021

    Date

    Leased

    CRMLS: 21732208

    $2,200

    Price

  • May 15, 2021

    Date

    Active

    CRMLS: 21732208

    $2,200

    Price

  • Listing provided courtesy of CRMLS

    Spacious 2 bedrooms, 1 bathroom unit in the heart of the West Adams district. Enjoy the new wood-inspired floors, open floors plan, new windows, fully remodeled bathroom and kitchen! Onsite parking included! Available to show now!

  • December, 2020

  • Dec 14, 2020

    Date

    Canceled

    CRMLS: 20632482

    $2,100

    Price

  • Sep 14, 2020

    Date

    Active

    CRMLS: 20632482

    $2,100

    Price

  • Listing provided courtesy of CRMLS

  • September, 2016

  • Sep 27, 2016

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • August, 2016

  • Aug 26, 2016

    Date

    Sold (Public Records)

    Public Records

    $825,000

    Price

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Tax History for 2622 S Orange Dr

Assessed Value (2020): $875,495
Year Land Value Improved Value Assessed Value
2020 $615,500 $259,995 $875,495

Home Value Compared to the Market

This property vs the competition

2622 S Orange Dr is listed 32.08% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $421.09 per/sqft which puts the price per square foot 45.52% lower than the median price per square foot for the city of Los Angeles.

About 2622 S Orange Dr

Detailed summary of property

2622 S Orange Dr is a multi family located in Los Angeles, CA 90016 and is currently for sale. This multi family property offers 9 bedrooms, 5 bathrooms, roughly 3,764 living square feet, and sits on an approximately 4,800 square foot lot. 2622 S Orange Dr was first listed on ArdentRealEstateGroup.com on April 30, 2024. The homeowner is currently asking $1,585,000 and was originally asking $1,595,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 32.08% higher than the median priced home. Local competing homes currently for sale include 2902 Hillcrest Dr, 2928 Carmona Ave and 1847 S Curson Ave. While the average home in Los Angeles, CA is selling in 101 days, 2622 S Orange Dr has a days on market of 73 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2723 of them are single family homes while 1208 of them are condos and 114 are townhomes. For more information on this home for sale at 2622 S Orange Dr Los Angeles, CA 90016 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2622 S Orange Dr

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
3,764
Lot Size
4,799
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
415
APN
5049-014-006

The source for these homes facts are from public records.

90016 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,095,000
Median List Price/Sq.Ft.
$760
Median Sold Price
$1,125,000
Median Sold Price/Sq.Ft.
$704
Total Inventory
79
Median Sale to List Price %
102.27%
Avg Days on Market
26
Loan Type
Conventional (15.38%), FHA (0%), VA (0%), Cash (0%), Other (23.08%)

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Related Resources to 2622 S Orange Dr

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.