738 Ogden Dr Los Angeles, CA 90036-4417

Property Details for 738 Ogden Dr

Year built

1926

Lot size

0.22 lot acres

Property size

7,145 SF

Zone code

LAR3

Property type

Apartment buildings

APN

5086-021-015

APU

5086021015

Description

This exceptional 12-unit apartment building, constructed in 2015, presents a compelling investment opportunity in Los Angeles' prestigious Miracle Mile neighborhood. The property boasts 16,860 square feet on a 9,567 square foot lot, zoned LAR3. Each of the twelve units is a spacious two-bedroom, two-bathroom condo-style apartment averaging 1,239 square feet. High-end finishes include floor-to-ceiling windows, central air and heat, in-unit washer/dryers, wood flooring, plush bedroom carpeting, and large balconies featuring two-way gas fireplaces. Select units offer walk-in closets, 10-foot ceilings, and skylights. Kitchens feature quartz countertops, tiled backsplashes, stainless steel appliances, and double sinks. Bathrooms are stylishly appointed with subway tile, glass-enclosed tubs, and showers. Building amenities include controlled access, a rooftop retreat with city views, assigned garage parking, electric car charging stations, and 24-hour emergency maintenance. The property enjoys a Walk Score of 91, placing it steps from LACMA and the Petersen Automotive Museum, and near Wilshire Boulevard, Fairfax Avenue, and The Grove. Its central location provides easy access to major employment centers, including Beverly Hills, Century City, and Downtown Los Angeles. The nearby Wilshire/Fairfax Metro D Line station (opening 2025) will offer convenient public transportation. The asking price is $9,200,000, representing a price per unit of $766,666.67, a price per square foot of $545.67, a current NOI of $407,629, and a pro-forma NOI of $496,448. The property offers a 4.43% cap rate and a pro-forma cap rate of 5.40%.