1775 N Orange Dr · Los Angeles, CA 90028

$12,250,000

8 bd · 43.0 ba · 36,098 sqft · MultiFamily public records · 140 Days on market

Built 1925 0.36 ac lot $339/sqft · 35% above area Est $9053k · 35% over

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +6.5/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 43 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

1775 N Orange Dr | 43-Unit Historic Apartment-Hotel in the Hollywood Foothills. Built in 1925 on a 15,751 SF LAR4 lot with 36,098 SF of improvements, this landmark asset is designated a Historic-Cultural Monument and benefits from Mills Act property tax incentives. The property features a unit mix of (36) studios and (7) 1-bed/1-bath units and operates under permitted legacy apartment-hotel use, offering stabilized income with operational flexibility. This property can be purchased with the two adjacent buildings for a total of $26.1M. 1769 N Orange Dr and 7000 Franklin Ave.

Key facts

• 0.36 acre lot
• Built 1925
• Listed 139 days

Tags

• HISTORIC-CULTURAL MONUMENT

What this means for you Summary

Snapshot

• This is a 36×36bd/1ba + 7×7bd/1ba units multifamily listed at $12.25M.

Deal economics

• At list price, monthly cash flow is $34k ($409k/yr) — positive. Per door: $793/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($141k rent vs $12.25M).
• Recommended offer: $10.78M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 71 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $140,563/mo this rent would consume 2749% of the median local household income ($61k/yr) (locally 6069% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $85k of loan paydown is wiped out by about $368k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($10.78M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $5.84M; list at $12.25M implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $10,780,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.93%
• DSCR: 1.53
• GRM: 7.3

CMA / ARV

• ARV (median comp): $9,052,536
• List price: $12,250,000
• Delta: 35.32%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.19% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-201,801
• Equity at exit: $1,826,515

10-year hold

• IRR: 5.0%
• Equity multiple: 1.32×
• Total profit: $1,111,407
• Equity at exit: $1,059,156

Cash invested: $3,430,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90028

• Home prices YoY: -1.3%
• Rents YoY: 0.2%
• Active inventory: 71
• Price-to-rent: 313.9×

Monthly cashflow live

• Estimated rent: $140,563 medium
• Mortgage (P&I): −$64,240
• Tax from tax record: −$7,591 /mo · $91,096/yr
• Insurance: −$5,104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$29,518
• Net cashflow: $34,109

Break-even live

Break-even rent $97,387

Max offer price $12,250,000

Occupancy floor 71%

Sensitivity live

Price	-10% $41,043	-5% $37,576	+0% $34,109	+5% $30,642	+10% $27,175
Rent	-10% $23,004	-5% $28,557	+0% $34,109	+5% $39,661	+10% $45,213
Rate	-1.0pp $40,278	-0.5pp $37,225	base $34,109	+0.5pp $30,935	+1.0pp $27,705

43-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 36× units	36	1	$117,072
▸ 7× units	7	1	$23,485
Total (43 units)			$140,563

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $3,062,500
• Closing costs: $367,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $12,250,000 Active 140 DOM
2. 2026-06-17
   days on market $12,250,000 Active 139 DOM
3. 2026-06-16
   days on market $12,250,000 Active 138 DOM
4. 2026-06-15
   days on market $12,250,000 Active 137 DOM
5. 2026-06-13
   days on market $12,250,000 Active 135 DOM
6. 2026-06-09
   days on market $12,250,000 Active 131 DOM
7. 2026-06-08
   days on market $12,250,000 Active 130 DOM
8. 2026-06-07
   days on market $12,250,000 Active 129 DOM
9. 2026-06-04
   days on market $12,250,000 Active 126 DOM
10. 2026-06-03
    days on market $12,250,000 Active 125 DOM
11. 2026-06-02
    days on market $12,250,000 Active 124 DOM
12. 2026-06-01
    days on market $12,250,000 Active 123 DOM
13. 2026-05-31
    days on market $12,250,000 Active 122 DOM
14. 2026-01-27
    listed $12,250,000 Active 581-char remark

    Show marketing remark (581 chars)

    1775 N Orange Dr | 43-Unit Historic Apartment-Hotel in the Hollywood Foothills. Built in 1925 on a 15,751 SF LAR4 lot with 36,098 SF of improvements, this landmark asset is designated a Historic-Cultural Monument and benefits from Mills Act property tax incentives. The property features a unit mix of (36) studios and (7) 1-bed/1-bath units and operates under permitted legacy apartment-hotel use, offering stabilized income with operational flexibility. This property can be purchased with the two adjacent buildings for a total of $26.1M. 1769 N Orange Dr and 7000 Franklin Ave.

15. 2024-01-21
    historical $1,955
16. 2023-12-24
    price $1,955
17. 2023-12-06
    listed $2,050
18. 2006-10-27
    soldstatus $5,842,500
19. 2004-09-02
    soldstatus $4,100,000 484-char remark

    Show marketing remark (484 chars)

    The Nirvana is, simply put, an architectural gem! The Nirvana is a unique 44 unit apartment community with numerous architectural appointments and is strikingly similar to the Mann Chinese Theatre located across the street. 25% of these charming units have been beautifully restored. The property also offers tremendous upside with market rents 60% higher than existing rents. It can be purchased individually or as a portfolio w/ 1745 and 1757 N. Orange. Call for a complete package.

20. 2004-06-21
    historical 484-char remark

    Show marketing remark (484 chars)

    The Nirvana is, simply put, an architectural gem! The Nirvana is a unique 44 unit apartment community with numerous architectural appointments and is strikingly similar to the Mann Chinese Theatre located across the street. 25% of these charming units have been beautifully restored. The property also offers tremendous upside with market rents 60% higher than existing rents. It can be purchased individually or as a portfolio w/ 1745 and 1757 N. Orange. Call for a complete package.

21. 2004-05-21
    listed $4,750,000 484-char remark

    Show marketing remark (484 chars)

    The Nirvana is, simply put, an architectural gem! The Nirvana is a unique 44 unit apartment community with numerous architectural appointments and is strikingly similar to the Mann Chinese Theatre located across the street. 25% of these charming units have been beautifully restored. The property also offers tremendous upside with market rents 60% higher than existing rents. It can be purchased individually or as a portfolio w/ 1745 and 1757 N. Orange. Call for a complete package.

22. 1994-12-30
    soldstatus $810,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $91,096 · $7,591/mo
• Projected year-2 tax: $93,100 · $7,758/mo
• Expected delta: +$2,004/yr (+$167/mo · 2.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,686,756
• − Mortgage interest: −$686,190
• − Property taxes: −$91,096
• − Insurance: −$61,250
• − Repairs & maintenance: −$134,940
• − Management: −$134,940
• − Depreciation: −$356,364
• Taxable income: $221,975
• Est. tax owed @ 24.0%: −$53,274
• After-tax cash flow: $356,034/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 32,883
• Household income: $61,349
• Rent vs Own: 96.6% rent · 3.4% own
• Severe rent burden: 6069.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 40% Hispanic / Latino 30% Asian 13% Two or more races 12% Black 8% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Scotch-Irish 3% Italian 2% Lithuanian 2%
• Foreign-born: 35% · Canada, China, South Korea
• Languages at home: 50% English-only · Spanish 25% Other Indo-European 8% Russian/Polish/Slavic 5%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.41%
• Current HPI: 335.151
• Rent YoY: ▲ 0.19%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+1412.3% since first listed

9 events — show timeline

• 2026-01-27 Listed $12,250,000 TheMLS
• 2024-01-21 Rental Removed $1,955 APPFOLIO
• 2023-12-24 Price Changed $1,955 APPFOLIO
• 2023-12-06 Listed for Rent $2,050 APPFOLIO
• 2006-10-27 Sold (Public Records) $5,842,500 Public Records
• 2004-09-02 Sold (MLS) $4,100,000 TheMLS
• 2004-06-21 Delisted — TheMLS
• 2004-05-21 Listed $4,750,000 TheMLS
• 1994-12-30 Sold (Public Records) $810,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $91,096 · -5.3% YoY. Source: county tax records.