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540 Orlando Avenue

West Hollywood, CA 90048

$7,500,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $499 / sqft

1962

calendar_month Built

Property Description

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; one of the one-bedrooms plus the one-bedroom ADU will be delivered vacant at the close of escrow; the ADU 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 27% 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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type None

Listing Information

Address 540 Orlando Avenue
City West Hollywood
State CA
Zip 90048
County Los Angeles
Listing Agent Neema Ahadian DRE#01346750
Courtesy Of Marcus & Millichap
MLS 24408589
List Price $7,500,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 11,479
Year Built 1962
DOM 17

Exterior Information

Maps

home_work Nearby Properties

Image

$2,795,000

king_bed N/A
shower N/A
straighten N/A
straighten 5,760
553 Flores Street,

West Hollywood, CA 90048
Image

$2,695/month

king_bed 1
shower 1
straighten 1,300
straighten 5,755
630 Orlando Avenue #4,

West Hollywood, CA 90048
Image

$1,749,000

king_bed 2
shower 3
straighten 1,508
straighten 5,732
528 Flores Street #101,

West Hollywood, CA 90048
Image

$1,549,000

king_bed 2
shower 3
straighten 1,248
straighten 5,732
528 Flores Street #102,

West Hollywood, CA 90048
Image

$1,549,000

king_bed 2
shower 3
straighten 1,248
straighten 5,732
528 Flores Street #103,

West Hollywood, CA 90048

Listing information courtesy of: Neema Ahadian, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Jun 27th, 2024 at 12:09 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.