2622 South Orange Drive

Los Angeles, CA 90016

$1,595,000
Price
9
Beds
5
Baths
3,764 Sq. Ft.
$424 / Sq. Ft.
3,764
Sq. Ft.
$424
per Sq. Ft.

Description

Just listed for Sale in West Adams! Become the proud owner of four spacious units. Imagine the potential! Occupy one unit and earn rental income from the remaining three - a savvy approach to optimizing your investment. The property offers the potential for increased rental revenue. Recently, three of the four units have been renovated, with one left vacant in immaculate condition. The unit mix is appealing, featuring one (3-bedroom, 2-bath) and three (2-bedroom, 1-bath) units. Ample onsite parking...Just listed for Sale in West Adams! Become the proud owner of four spacious units. Imagine the potential! Occupy one unit and earn rental income from the remaining three - a savvy approach to optimizing your investment. The property offers the potential for increased rental revenue. Recently, three of the four units have been renovated, with one left vacant in immaculate condition. The unit mix is appealing, featuring one (3-bedroom, 2-bath) and three (2-bedroom, 1-bath) units. Ample onsite parking is provided. You may also consider transforming the parking spaces beneath the building into ADUs (Accessory Dwelling Units), which are becoming increasingly popular, particularly in areas like Mid City/West Adams. This property is also located in an Opportunity Zone - a prime investment opportunity not to be missed! One unit is vacant, which can benefit potential FHA buyers; investors can lease up the unit to market rents as well!

Property Details for 2622 South Orange Drive

Water Front
None
Zoning
LARD1.5
Style
Traditional
Parcel Number
5049014006
Total Units
4.0
Living Area
3764
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261
Add your commute
LISTING UPDATED: 05/16/2024 12:32 PM

Property Details for 2622 South Orange Drive

StatusActive
MLS #24-385755
Days on Market21
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1966
Lot Size0.11 AC / 4,800 SF
CountyLos Angeles County

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261
Add your commute

Building Information for 2622 South Orange Drive

Stories2Residences-Year Built1966Building Size-Lot Size0.11 AC / 4,800 SF

Payment Calculator

$9,669 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,705

Property Taxes

$964

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2622 South Orange Drive

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Low Rise
  • View: No
  • View Description: None
  • View: None
  • Direction Faces: West
  • Property Condition: Updated/Remodeled
  • Water: District
  • Sewer: In Connected and Paid
  • Water Heaters: Yes
  • ADA Compliance: No
  • Additions Alterations: No
  • Water Heater Features: Multi-Tank
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $105,792
  • Net Operating Income: $77,062.00
  • Gross Income: $105,792
  • Cap Rate: 4.83%
  • Gross Rent Multiplier: $15.08
  • Total Annual Expense: 28730
Land / Lot Info
Land / Lot Info
  • Alley: No
  • Paved: Yes
  • Lot Acreage: 0.1102
  • Lot Size Square Feet: 4800
  • Lot Features: Front Yard
  • Lot Description: Front Yard
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 4
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Two
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling Type: Ceiling Fan
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Laminate
  • Equipment: Ceiling Fan, Refrigerator, Range/Oven
  • Interior Features: Ceiling Fan(s)
  • Laundry: None
Exterior Features
Exterior Features
  • Windows: Double Pane Windows
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-29-2024
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,476.00
  • Unit Actual Rent: $1,476.00
  • Unit Projected Rent: $1,535.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $2,062.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,288.00
  • Unit Actual Rent: $2,288.00
  • Unit Projected Rent: $2,380.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,052.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,052.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $273,299.00
  • Assessed Improvement Percent: 29.7
  • Assessed Land Value: $646,999.00
  • Assessed Land Percent: 70.3
  • Assessed Total Value: $920,298.00

Property History for 2622 South Orange Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2622 South Orange Drive

Taxable ValueLand$646,999Additions$273,299Total$920,298
Tax Record2023$11,564 ($964 / month)
Home Facts
Total Finished SqFt3,764 SqFtAbove Grade Finished SqFt3,764 SqFtLot Size4,800 SqFtStyleQuadraplexZoningLARD1.5CountyLOS ANGELESAPN5049-014-006

Schools near 2622 South Orange Drive

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Cienega Elementary School
PublicK to 5

Johnnie Cochran, Jr., Middle School
Public6 to 8

Susan Miller Dorsey Senior High School
Public9 to 12

New Los Angeles Charter School
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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2622 South Orange Drive is a multi-family home for sale in Los Angeles, CA 90016. This property was listed for sale on April 29, 2024 by Global Platinum Properties, Inc., it's currently listed at $1,595,000. It has been on the market for a total of 21 days and was last sold on July 26, 2016. This listing's school district is Los Angeles Unified School District. Nearby schools include Cienega Elementary School, Johnnie Cochran, Jr., Middle School and Susan Miller Dorsey Senior High School. 2622 South Orange Drive is a 9-bed, 5-bath, 3,764 sqft multi-family home built in 1966.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.