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537 N Orange Dr 10 Unit Apartment Building $6,434,411 CAD ($643,441 CAD/Unit) 4.94% Cap Rate Los Angeles, CA 90036
Investment Highlights
- Prime Hancock Park location near Melrose Avenue and Highland Avenue with excellent walkability.
- Beautifully landscaped central courtyard offering a private and tranquil setting.
- Exempt from LA City rent control and AB 1482, providing long-term operational flexibility.
- Ten fully renovated one-bedroom units featuring designer kitchens, updated bathrooms, and hardwood flooring.
- Strong in-place income with additional upside through rent growth and ADU conversion potential.
- Close to major employment centers, cultural attractions, and convenient freeway access.
Executive Summary
537 North Orange Drive presents a rare investment opportunity in the heart of historic Hancock Park, one of Los Angeles’ most desirable neighborhoods. This boutique multifamily property features 10 individually renovated units arranged around a beautifully landscaped central courtyard, creating a serene and highly appealing living environment. Originally built in 1927 and thoughtfully reimagined in the early 2000s, the property blends classic architectural charm with modern upgrades, including designer kitchens, updated bathrooms, and stylish hardwood flooring. Each unit offers one bedroom and one bathroom, with in-unit washer/dryer hookups and air conditioning, enhancing tenant comfort and retention.
The property’s prime location just south of Melrose Avenue and west of Highland Avenue provides immediate access to premier dining, shopping, and entertainment destinations. Tenants benefit from proximity to major employment hubs, cultural attractions, and convenient transportation routes, including the 101 Freeway. With strong in-place income and additional upside through rent growth, this asset offers both stability and long-term appreciation potential. Two existing garages present an opportunity for ADU conversion, further increasing revenue. Exempt from LA City rent control and AB 1482, this property is positioned as a generational asset and a cornerstone for any sophisticated investor’s portfolio.
The property’s prime location just south of Melrose Avenue and west of Highland Avenue provides immediate access to premier dining, shopping, and entertainment destinations. Tenants benefit from proximity to major employment hubs, cultural attractions, and convenient transportation routes, including the 101 Freeway. With strong in-place income and additional upside through rent growth, this asset offers both stability and long-term appreciation potential. Two existing garages present an opportunity for ADU conversion, further increasing revenue. Exempt from LA City rent control and AB 1482, this property is positioned as a generational asset and a cornerstone for any sophisticated investor’s portfolio.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,434,411 CAD | Apartment Style | Garden |
| Price Per Unit | $643,441 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 4.94% | Building Size | 7,630 SF |
| Gross Rent Multiplier | 13.15 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2006 |
| Property Subtype | Apartment | ||
| Zoning | RD1.5 - LARD.1 | ||
| Price | $6,434,411 CAD |
| Price Per Unit | $643,441 CAD |
| Sale Type | Investment |
| Cap Rate | 4.94% |
| Gross Rent Multiplier | 13.15 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 7,630 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1927/2006 |
| Zoning | RD1.5 - LARD.1 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Vaulted Ceiling
- Stainless Steel Appliances
- Garden
- Loft Layout
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $3,949 CAD | 613 |
| 1+1 | 1 | $3,949 CAD | - |
| 1+1 | 1 | $4,358 CAD | - |
| 1+1 | 1 | $3,813 CAD | - |
| 1+1 | 1 | $3,813 CAD | - |
| 1+1 | 1 | $4,358 CAD | - |
| 1+1 | 1 | $4,265 CAD | - |
| 1+1 | 1 | $4,358 CAD | - |
| 1+1 | 1 | $3,949 CAD | - |
| 1+1 | 1 | $3,949 CAD | - |
Walk Score®
Walker's Paradise (94)
Property Taxes
| Parcel Number | 5525-019-002 | Improvements Assessment | $1,841,006 CAD |
| Land Assessment | $5,966,896 CAD | Total Assessment | $7,807,901 CAD |
Property Taxes
Parcel Number
5525-019-002
Land Assessment
$5,966,896 CAD
Improvements Assessment
$1,841,006 CAD
Total Assessment
$7,807,901 CAD
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537 N Orange Dr
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