1769 N Orange Dr Los Angeles, CA 90028

Property Overview

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1769 N Orange Dr is a 30-unit multifamily investment opportunity located at the base of the Hollywood Hills, just steps from Franklin Avenue, Runyon Canyon, and the Hollywood/Highland Metro Station. Built in 1949 on an expansive 18,905 SF LAR4-zoned lot, the property is comprised entirely of efficient studio layouts and offers a compelling value-add strategy through operational reconfiguration and long-term density optionality.

The asset benefits from a walkable, transit-oriented location with a Walk Score approaching “Walker’s Paradise,” appealing directly to Hollywood’s renter base of creatives, entertainment professionals, and young urban workers who prioritize location over square footage.

This property may also be acquired individually or as part of a three-property Hollywood Foothills portfolio totaling 91 units across 1769 N Orange Dr, 1775 N Orange Dr, and 7000 Franklin Ave, offered at an aggregate price of $26,100,000.

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Key Property Details

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• Address: 1769 N Orange Dr, Los Angeles, CA 90028
• Units: 30
• Year Built: 1949
• Building Size: 16,847 SF
• Lot Size: 18,905 SF
• Zoning: LAR4
• Parking: 8 on-site spaces
• Rent Control: Yes

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Investment Highlights

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• High-Efficiency Studio Product
  The property is comprised entirely of studio units averaging approximately 500 SF, positioning it as one of the lowest price-of-entry rental options in the immediate Hollywood Foothills submarket. This efficient unit mix supports strong occupancy and consistent tenant demand.
• Proven Value-Add Through Reconfiguration
  The offering includes a documented strategy to enhance yield through selective unit reconfiguration and internal layout optimization, supporting meaningful rent growth and improved income efficiency without reliance on speculative ground-up development.
• Covered Land Play with LAR4 Zoning
  Situated on nearly half an acre of land and zoned LAR4, the site is significantly underbuilt relative to zoning capacity. Investors benefit from current cash flow while retaining long-term redevelopment and density optionality in a supply-constrained Hollywood submarket.
• Transit-Oriented, Walkable Location
  Located minutes from the Hollywood/Highland Metro Red Line, Runyon Canyon hiking trails, and Franklin Village retail, the property supports a car-optional lifestyle that consistently outperforms in occupancy and rent resilience.
• Operationally Efficient Asset
  1949 masonry construction, gated access, and surface parking contribute to a straightforward operating profile with manageable expenses and durable long-term ownership characteristics.

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Neighborhood and Accessibility

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The Hollywood Foothills / Franklin Village micro-market is defined by high barriers to entry, limited new supply, and a renter demographic priced out of nearby homeownership. With median home values exceeding $2M in the surrounding hillside neighborhoods, demand for well-located rental housing remains deep and durable.

Proximity to major employment centers including Hollywood studios, media offices, and transit infrastructure further supports long-term rental stability and value appreciation.

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For more information and to schedule a viewing, please contact:

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl