914 Orme Ave

Los Angeles, CA 90023

$1,220,000
Last Sold Price
10
Beds
10
Baths
5,090 Sq. Ft.
$240 / Sq. Ft.
5,090
Sq. Ft.
$240
per Sq. Ft.
Closed 8/22/24Virtual Tour
Closed 8/22/24Virtual Tour
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Description

914 Orme Ave is a 10-unit residential income community in Boyle Heights, Los Angeles with a total of 9 separate structures measuring 5,090 sf of living space on a 11,749 sf lot. Comprised of 8 individual Spanish Style Bungalows + 1 Duplex and a central courtyard, this mini compound may offer significant returns. Each unit has 1 bed 1 bath, its own laundry room, individual electric & gas meters and some DTLA views. Two units will be delivered VACANT. At $120,000 per unit, the offering provides savvy...914 Orme Ave is a 10-unit residential income community in Boyle Heights, Los Angeles with a total of 9 separate structures measuring 5,090 sf of living space on a 11,749 sf lot. Comprised of 8 individual Spanish Style Bungalows + 1 Duplex and a central courtyard, this mini compound may offer significant returns. Each unit has 1 bed 1 bath, its own laundry room, individual electric & gas meters and some DTLA views. Two units will be delivered VACANT. At $120,000 per unit, the offering provides savvy investors a unique opportunity to purchase a premium asset with strong (+/-72%) projected upside in market rents and value-add potential. In one of the strongest rental markets in LA, this property enjoys close proximity to the Financial District, Sixth St Bridge, the Arts District, USC Keck Hospital, Union Station, DTLA, LA Convention Center, Dodger Stadium and convenient access to the 5, 10, 60, 101 and 710 fwys. Exciting projects, such as the 6th St Viaduct PARC (Parks, Arts, River and Connectivity Improvements) is underway. A projected 12-acre park will span below the 6th St Bridge connecting Boyle Heights with the Arts District and the LA River. The new space will create dog parks, a skate park, a performing arts plaza, soccer fields, a playground, and open green space. First time on the market in 55+ years, this is your chance to take the property to the next level. Sold as-is.

Listing Agents

  1. Maribel Benitez

    Maribel Benitez

    Listing Agent

    Compass

    DRE #01866825

    CallTextEmail
  2. Kelly Tran

    Kelly Tran

    Alternative Listing Agent

    Compass

    DRE #01854381

    kelly.tran@compass.com

    P: (626)-379-8447

    CallTextEmail

Property Details for 914 Orme Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5090
Assessor Parcel Number
5189-011-038
Property Attached YN
true
LISTING UPDATED: 08/23/2024 12:56 PM

Property Details for 914 Orme Avenue

StatusClosed
MLS #WS24101288
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1924
Lot Size0.27 AC / 11,749 SF
CountyLos Angeles County
Buyer's Agent Compensation2.5%

Location

Listing Courtesy of Compass, Maribel Benitez, DRE #01866825; Compass, Kelly Tran, DRE #01854381

Sold By KO TAI REALTY, KIET DO, DRE #01917495

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Building Information for 914 Orme Avenue

Stories1Residences-Year Built1924Building Size-Lot Size0.27 AC / 11,749 SF

Payment Calculator

$6,598 per month

30 year fixed, 6.845% Interest

Principal and Interest

$6,392

Property Taxes

$206

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 914 Orme Avenue

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas, Sewer, Trash Collection
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $0
  • Net Operating Income: $0
  • Number Of Rented Garages: 0
  • Laundry Income: $0
  • Other Income 1: $0
  • Other Income 2: $0
  • Financing: Conventional
Expense Details
  • Operating Expense: $0
  • New Taxes Expense: $14,975
  • Fuel Expense: $0
  • Licenses Expense: $3,007
  • Electric Expense: $0
  • Insurance Expense: $3,629
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $6,000
  • Total Expenses: $27,611
Tax / Assessment Info
  • Tax Tract Number: 2047
  • Tax Census Tract: 2047.00
  • Tax Lot: 74
Community / Development
Community / Development
  • Community Features: Sidewalks, Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Individual Room
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Level with Street, Yard
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Private
  • Sewer: Public Sewer
  • Water Source: Private
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: On street
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Street
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 5
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 6
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: Yes
  • Number Of Buildings: 9
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1

Property History for 914 Orme Avenue

DateEvent & SourcePriceAppreciation
Aug 22, 2024

Sold

CLAW #WS24101288MR

$1,220,000—
Aug 22, 2024

Sold

CRMLS #WS24101288

$1,220,000—
Jun 28, 2024

Sold (Public Record)

Public Record #1539653892

$1,220,000—
Jun 10, 2024

Pending

CRMLS #WS24101288

—
Jun 6, 2024

Pending

CLAW #WS24101288MR

—
May 23, 2024

Listed (Active)

CRMLS #WS24101288

$1,198,000—
May 17, 2024

Listed (Active)

CLAW #WS24101288MR

$1,198,000—
DateEvent & SourcePrice
08/22/2024

Sold

CLAW #WS24101288MR

$1,220,000
08/22/2024

Sold

CRMLS #WS24101288

$1,220,000
06/28/2024

Sold (Public Record)

Public Record #1539653892

$1,220,000
06/10/2024

Pending

CRMLS #WS24101288

—
06/06/2024

Pending

CLAW #WS24101288MR

—
05/23/2024

Listed (Active)

CRMLS #WS24101288

$1,198,000
05/17/2024

Listed (Active)

CLAW #WS24101288MR

$1,198,000

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

Public Records for 914 Orme Avenue

Taxable ValueLand$29,292Additions$67,747Total$97,039
Tax Record2024$2,477 ($206 / month)
Home Facts
Total Finished SqFt5,090 SqFtAbove Grade Finished SqFt5,090 SqFtLot Size11,746 SqFtStyleMulti-Family Res (5+ Units)Year Built1924ZoningLAR2CountyLOS ANGELESAPN5189-011-038

Schools near 914 Orme Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Soto Street Elementary School
Public - K to 6
KIPP Los Angeles College Preparatory School
Charter - 5 to 8
Theodore Roosevelt Senior High
Public - 9 to 12
Felicitas And Gonzalo Mendez High
Public - 9 to 12
Rating
School
Distance
Soto Street Elementary School
PublicK to 6

KIPP Los Angeles College Preparatory School
Charter5 to 8

Theodore Roosevelt Senior High
Public9 to 12

Felicitas And Gonzalo Mendez High
Public9 to 12

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.

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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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Maribel Benitez, DRE #01866825; Compass, Kelly Tran, DRE #01854381

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.