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$ 4,995,000
Est. payment /mo
Price Dropped by $400K
537 N Orange DR Los Angeles, CA 90036
10 Beds
10 Baths
7,630 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,630 sqft
Price per Sqft $654
MLS Listing ID 25540681
Bedrooms 10
HOA Y/N No
Year Built 1927
Lot Size 0.341 Acres
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 C18 - Hancock Park-Wilshire
Zoning LARD1.5
Interior
Heating Electric
Fireplace No
Appliance Dishwasher, Refrigerator, Dryer, Washer
Exterior
Parking Features Driveway, Garage
Garage Spaces 4.0
Garage Description 4.0
Total Parking Spaces 4
Building
Story 1
Entry Level One
Architectural Style Cottage
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5525019002
Special Listing Condition Standard
Listed by David Miller Miller & Desatnik Realty Co.