Property Detail

Description

1237 N Orange Dr is a brand-new luxury 5-unit property in the heart of Hollywood, with one unit available to be delivered vacant or leased, making it an ideal opportunity for owner occupancy! Built to a standard that stands apart from typical new construction, the property features designer finishes and fixtures, custom tilework, oversized windows, in-unit laundry and large balconies in most residences. The unit mix includes four spacious 4-bedroom residences and one impressive 3-bedroom residence. Four units are leased at market rents, providing immediate income, while the remaining unit offers an opportunity for a buyer to live on-site and utilize owner occupancy financing. Offered at $4,750,000, the property features a 5.87% pro forma cap rate and approximately $354,600 in projected annual gross income at full occupancy. Ideally located near Larchmont Village, Melrose Avenue, Santa Monica Boulevard and Hollywood Boulevard, the property provides convenient access to major studios, entertainment employers, dining, shopping and nightlife. With premium finishes, established rental income and flexibility for owner occupancy, 1237 N Orange Dr offers a compelling opportunity to own luxury new construction in a prime Hollywood location.