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914 Orme Ave, Los Angeles, CA 90023
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914 Orme Ave Los Angeles, CA 90023

$1,220,000 Sold Price as of 08/22/2024
  • 10 Beds
  • 10 Baths
  • 5,090 Sq.Ft.
Sold
$1,220,000 Sold Price as of 08/22/2024 Refinance Your Mortgage
Map preview of 914 Orme Ave, Los Angeles, CA 90023

Property Overview: 914 Orme Ave Los Angeles, CA has 10 bedrooms, 10 bathrooms, 5,090 living square feet and 11,749 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 914 Orme Ave is a 10-unit residential income community in Boyle Heights, Los Angeles with a total of 9 separate structures measuring 5,090 sf of living space on a 11,749 sf lot. Comprised of 8 individual Spanish Style Bungalows + 1 Duplex and a central courtyard, this mini compound may offer significant returns. Each unit has 1 bed 1 bath, its own laundry room, individual electric & gas meters and some DTLA views. Two units will be delivered VACANT. At $120,000 per unit, the offering provides savvy investors a unique opportunity to purchase a premium asset with strong (+/-72%) projected upside in market rents and value-add potential. In one of the strongest rental markets in LA, this property enjoys close proximity to the Financial District, Sixth St Bridge, the Arts District, USC Keck Hospital, Union Station, DTLA, LA Convention Center, Dodger Stadium and convenient access to the 5, 10, 60, 101 and 710 fwys. Exciting projects, such as the 6th St Viaduct PARC (Parks, Arts, River and Connectivity Improvements) is underway. A projected 12-acre park will span below the 6th St Bridge connecting Boyle Heights with the Arts District and the LA River. The new space will create dog parks, a skate park, a performing arts plaza, soccer fields, a playground, and open green space. First time on the market in 55+ years, this is your chance to take the property to the next level. Sold as-is.

Listed by MARIBEL BENITEZ | BRE #01866825 | Compass-Pasadena
Co-listed by KELLY TRAN | BRE #01854381 | Compass
Last checked: 10 minutes ago | Last updated: August 24th, 2024 | Source CRMLS | DOM: 14

Home details

Lot Sq. Ft
11,749
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Mixed Use
Status
Sold
MLS#
WS24101288
City
Los Angeles
County
Los Angeles
Time on Site
128 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 9
  • # of Leased Units: 8
  • # of Electric Meters: 10
  • # of Gas Meters: 10
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $0
  • Net Operating Income: $0
  • Gross Operating Income: --
  • # of Rented Garages: 0
  • Laundry Income: $0
  • Other Income 1: $0
  • Other Income 2: $0
Annual Expense Breakdown
  • Total Operating Expense: $0
  • Electric: $0
  • Gas/Fuel: $0
  • Licenses: $3,007
  • New Taxes: $14,975
  • Trash: $0
  • Insurance: $3,629
  • Professional Management: $0
  • Water/Sewer: $6,000

Virtual Tour

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Property Details for 914 Orme Ave

Interior Features
Laundry Information
  • Has Laundry
  • Individual Room
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: Street
Lot Information
  • Lot Features: Level with Street, Yard
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 10
  • Parcel Number: 5189011038
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Private
Location / Neighborhood
Location Information
  • Directions: off whittier blvd x Soto
Neighborhood Information
  • Community Features: Sidewalks, Urban
View more facts & features

Local Los Angeles Agent

Sale History for 914 Orme Ave

Last sold for $1,220,000 on August 22nd, 2024

  • August, 2024

  • Aug 22, 2024

    Date

    Sold

    CRMLS: WS24101288

    $1,220,000

    Price

  • May 23, 2024

    Date

    Active

    CRMLS: WS24101288

    $1,198,000

    Price

  • April, 1996

  • Apr 22, 1996

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 914 Orme Ave

Assessed Value (2020): $90,507
Year Land Value Improved Value Assessed Value
2020 $27,320 $63,187 $90,507

Home Value Compared to the Market

This property vs the competition

914 Orme Ave sold on August 22, 2024 for 6.96% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $235.36 per/sqft which puts the price per square foot 67.49% lower than the current median sale per square foot for the city of Los Angeles.

About 914 Orme Ave

Detailed summary of property

914 Orme Ave is a mixed use that recently sold in Los Angeles, CA 90023. This mixed use property offered 10 bedrooms, 10 bathrooms, roughly 5,090 living square feet, and sits on an approximately 11,749 square foot lot. 914 Orme Ave was first listed on ArdentRealEstateGroup.com on May 24, 2024. The homeowner sold the property for $1,220,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 6.96% higher than the current median priced home. Local homes that are currently for sale include 726 W 76th St, 4913 Melrose Ave #4911 and 2813 W Florence Ave. While the average home in Los Angeles, CA is selling in 106 days, 914 Orme Ave has a days on market of 14 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 914 Orme Ave Los Angeles, CA 90023 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 914 Orme Ave

Public county record property details
Beds
10
Baths
10
Year built
1924
Sq. Ft.
5,090
Lot Size
11,746
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
73,74
APN
5189-011-038

The source for these homes facts are from public records.

90023 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$650,000
Median List Price/Sq.Ft.
$624
Median Sold Price
$692,500
Median Sold Price/Sq.Ft.
$604
Total Inventory
20
Median Sale to List Price %
106.55%
Avg Days on Market
32
Loan Type
Conventional (0%), FHA (25%), VA (0%), Cash (0%), Other (50%)

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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