1006 South Orange Drive is a 16-unit apartment community and the highly sought-after Miracle Mile sub-market. This 16-unit Miracle Mile apartment community is centrally right off Olympic Blvd., a short distance from Wilshire Blvd., The Grove, and other popular destinations. Miracle Mile multifamily investments have historically provided investors exceptional long-term capital appreciation and wealth preservation. 1006 South Orange Drive, built in 1928, features four (4) 1- Bedroom/1-Bathroom units, two (2) Junior 1-Bedroom/1-Bathroom units, and ten (10) Studio Apartments. Investors and renters will be drawn to the attractive 1920s brick property with twin-pitched roofs, original windows, and manicured landscaping. Property amenities include an on-site laundry room, private seating area/porch on the second floor, and an inviting backyard--great for outdoor dining or dog walks. The apartment homes are individually metered for electricity and master-metered for gas and water. Current ownership has also implemented a Utility Pass-Through Program (RUBs System), keeping the owner's expenses low by passing along shared expenses to the tenants. The asset is close to world-class dining, shopping, entertainment, and nightlife in Los Angeles. It further benefits from access to business services and major employment centers throughout the city and its surrounding neighborhoods. There is a substantial rental upside based on the current market vs. existing rents, thus representing a significant long-term investment opportunity in an exceptional Miracle Mile location.
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DAYS ON MARKET
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16
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LAST UPDATED
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4/2/2025
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YEAR BUILT
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1928
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COMMUNITY
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Hancock Park-Wilshire
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COUNTY
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Los Angeles
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STATUS
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Active
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PROPERTY TYPE(S)
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Residential Income
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| AREA |
Hancock Park-Wilshire |
| GARAGE |
On Street |
| LOT |
10326 sq ft |
| PARKING |
On Street |
| STORIES |
2 |
| ZONING |
LAR3 |
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Listed with KW Commercial Studio City
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/3/25 4:36 PM PDT and /or other sources. 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
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