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

$1,198,000
  • 10 Beds
  • 10 Baths
  • 5,090 Sq.Ft.
Pending
$1,198,000 Get Pre-Qualified

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 to verify current availability of this home or 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: 1 minute ago | Last updated: June 10th, 2024 | Source CRMLS | DOM: 14
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Home details

Lot Sq. Ft
11,749
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Mixed Use
Status
Pending
MLS#
WS24101288
City
Los Angeles
County
Los Angeles
Time on Site
50 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
  • Actual Rent: $460
  • Total Rent: $460
  • 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
  • Actual Rent: $460
  • Total Rent: $460
  • 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
  • Actual Rent: $460
  • Total Rent: $460
  • 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
  • Actual Rent: $460
  • Total Rent: $460
  • 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
  • Actual Rent: $550
  • Total Rent: $550
  • 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
  • Actual Rent: $510
  • Total Rent: $510
  • 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
  • Actual Rent: $510
  • Total Rent: $510
  • 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
  • Actual Rent: $510
  • Total Rent: $510
  • 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

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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
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Sale History for 914 Orme Ave

Last sold on April 22nd, 1996
  • June, 2024

  • Jun 10, 2024

    Date

    Pending

    CRMLS: WS24101288

    $1,198,000

    Price

  • May 23, 2024

    Date

    Active

    CRMLS: WS24101288

    $1,198,000

    Price

  • April, 1996

  • Apr 22, 1996

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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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 is listed 0.17% lower 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 $769 and this home is listed at $235.36 per/sqft which puts the price per square foot 69.39% lower than the median price per square foot for the city of Los Angeles.

About 914 Orme Ave

Detailed summary of property

914 Orme Ave is a mixed use located in Los Angeles, CA 90023 and is currently in escrow to be sold. This mixed use property offers 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 is currently asking $1,198,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $769. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 0.17% lower than the median priced home. Local competing homes currently for sale include 2323 Redondo Blvd #2, 5423 Dairy Ave and 1202 E Plymouth St. While the average home in Los Angeles, CA is selling in 101 days, 914 Orme Ave has a days on market of 14 days. There are currently 3970 homes for sale in the Los Angeles real estate market and 2658 of them are single family homes while 1194 of them are condos and 110 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
$599,000
Median List Price/Sq.Ft.
$628
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$646
Total Inventory
21
Median Sale to List Price %
101.18%
Avg Days on Market
57
Loan Type
Conventional (0%), FHA (100%), VA (0%), Cash (0%), Other (0%)

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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.