1149 Orme Avenue, Los Angeles, California 90023, Los Angeles, 90023 - 0 bed, 0 bath
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1149 Orme Avenue
Los Angeles, California 90023
ACTIVE
CONDITION: GOOD
0Beds
0Baths
1,799Sq Ft
5,200Lot Size
Property Price
LIST PRICE$819,000
EST. MARKET VALUE
$745,981
9% AboveMARKET VALUE
SUMMARY
This triplex represents a High-Potential Investment Opportunity with a List Price of $835,000—positioned well above the $750,941 Fair Market Value by 11%. While priced above current estimates, the property features a Condition Rating of 3 with modernized utilities, including three new electrical meters. The delivery of two vacant units provides immediate rental upside and flexibility for an owner-user. With a 1,799 sqft footprint and private yards, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a strategic, income-generating property near Downtown LA.
Estimated Market Value
$745,981
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1149 Orme Avenue Subject 0 bd · 0 ba · 1,799 sqft · $415 | $819,000* List Price | 0 | 0 | 1,799 | $415 | - |
A 3065 E 6th Sold 0 bd · 0 ba · 1,777 sqft · $366 · 0.8 mi | $650,000 | 0 | 0 | 1,777 | $366 | 0.8 mi |
B 729 S Bernal Sold 6 bd · 3 ba · 2,250 sqft · $360 · 0.8 mi | $811,000 | 6 | 3 | 2,250 | $360 | 0.8 mi |
C 729 S Bernal Sold 0 bd · 0 ba · 2,250 sqft · $360 · 0.8 mi | $811,000 | 0 | 0 | 2,250 | $360 | 0.8 mi |
D 718 S Grande Vista Active 0 bd · 0 ba · 1,854 sqft · $485 · 0.7 mi | $899,000 List Price | 0 | 0 | 1,854 | $485 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1941, the property has been updated with a functional kitchen featuring shaker-style cabinets and stone countertops (estimated 5-15 year old renovation). The listing highlights three new electrical meters and visible HVAC units, indicating system upgrades that make the units move-in ready and well-maintained for an investment triplex.
PROSSTRENGTHS & OPPORTUNITIES
- Immediate Rental Upside
The delivery of two vacant units allows an investor to immediately lease at current market rates or provides an ideal opportunity for an owner-user to occupy a unit while generating income.
- Strategic Location
Situated just five minutes from Downtown Los Angeles, the property offers high rental demand due to its proximity to major employment, transit, and entertainment hubs.
- Modernized Utilities
The inclusion of three new electrical meters simplifies utility billing for the landlord and represents a significant upgrade to the property's core infrastructure.
CONSRISKS & DEFICIENCIES
- Vintage Construction
Originally built in 1941, the property may necessitate ongoing maintenance or additional capital improvements to aging plumbing and structural components.
- Compact Living Spaces
With a total of 1,799 square feet divided among three units, the average unit size is relatively small, which may limit appeal for larger tenant households.
About 1149 Orme Avenue
3 UNITS. 5 MINUTES FROM DOWNTOWN LA. $819,000. Seller discounted $ 30,000. off original price and still will give you 2 Vacancies and LOWER INTEREST RATES based on qualifications!! Looking for a multi-unit investment opportunity near Downtown L A ?? 3-Unit Investment Property ? 3 New Electrical Meters ?? More Importantly Where can you find 2 Units to Be Delivered Vacant ?? Front Unit Has a Private Yard ?? Back Unit is Separate and Has a Private Yard ?? Just minutes from Downtown LA
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1941
- Lot Size
- 5,200 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 1,799 | 2,090.331 |
| Lot Size | 5,200 | 5,852.908 |
| Price | $819.0K | $830.9K |
| Price per sq ft | $455 | $394 |
| Built year | 1941 | 1928 |
| HOA | $0 | $0 |
| Days on market | 62 | 87 |
Pricing History
Listed for Sale
Oct 21, 2026
$819,000
$835,000
-2% Price Drop
Initial Listing
Price Change
Oct 7, 2026
$835,000
$849,000
-2% Price Drop
Initial Listing
Price Change
Sep 8, 2026
$849,000
Initial Listing
Sold
Jan 16, 2019
$470,000
Public Record