Active

540 N Orlando Ave

West Hollywood CA, 90048

$6,950,000


$463.02 per sqft

Active

28 Beds

29 Baths

15,010 sqft

Multi-family

Built in 1962

540 Orlando Avenue, an A+ West Hollywood location three blocks east of La Cienega Blvd and south of Melrose Ave; this garden-style apartment building was constructed in 1962 and totals 17 units. 540 Orlando Ave features a unit mix made up of five one-bedrooms, 11 two-bedrooms, and one three-bedroom with 18 gated parking spaces; three units will be delivered vacant at the close of escrow, including the ADU that has been built and is waiting on final inspection. Opportunity for an investor to purchase a value-add asset in a premiere location with below market rents and implement an interior renovation strategy to achieve market rents as units turn and capture over 37% rental upside. The property has been well maintained throughout the years with professional landscaping, newer windows, and a welcoming common area courtyard with seating; some of the unit interiors feature recessed lighting, wall AC's, tile floors, and updated bathrooms; further interior renovations that could enhance rents include updated kitchens and appliances, laundry in-units, and high-quality vinyl flooring. The building is separately metered for gas and electric; additionally, there is a community laundry room with two washers and two dryers. Impeccable Walk Score of 97, tenants are walking distance from high-end restaurants on Melrose Ave and La Cienega Blvd such as EP & LP, Catch LA, and Urth Caffe, among others; the property is located less than a mile from the Beverly Center and Cedars Sinai Medical Center and one and a half miles from The Grove community known for being highly walkable, providing an array of amenities within a half-mile radius, the property has a walk score of 86 and is within walking distance to S La Cienega, W Pico, and W Olympic Blvd with high-end retail options for residents. Ideally located to commute to major employment hubs in West Hollywood, Beverly Hills, Century City, and Hollywood: walking distance to the Pacific Design Center, a 1.6 MM SF multi-use facility for the design community.

24-408589

MLS ID

June 26, 2024

Listed

August 26, 2024

Updated

Map

540 N Orlando Ave
West Hollywood CA, 90048

Interior Features

Total Stories

2


Bedrooms

28


Total Bathrooms

29


Appliances

None


Fireplace

No


Cooling

No


Cooling Description

None


Heating

No


Heating Description

None

Exterior/Building Features

Lot Size

0.26 Acres

Other Property Details

Area Name

West Hollywood Vicinity


Days on Market

77


Garage

No


Parking

Gated


Parking Total

0


View

No


County

Los Angeles


Pool

No


Zoning

WDR3C*

Listing History

Date

Event

Price

8/24/2024

Price change

$6,950,000

-5%

7/24/2024

Price change

$7,250,000

-4%

Listed by Neema Ahadian with Marcus & Millichap
Listing Contact: 310-909-5444 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Hilton Hilton shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 8/26/2024

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