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Historic Hollywood Hills Villa Compound 1903 Orchid Ave

9 Unit Block of Flats £9,665,250 (£1,073,917/Unit) 3.71% Net Initial Yield Los Angeles, CA 90068

Investment Highlights

  • Historic Andalusian garden village built in 1929 by Wilfred Buckland, Cecile B. DeMille's frequent art director
  • This compound, located at the base of the Hollywood Hills, has five villa-like structures consisting of nine units and a flex space
  • Modern updates include custom cabinetry, stainless steel appliances, and an in-unit washer and dryer
  • Immaculately restored by Howell & Padgett in 2019, whose previous works include the iconic Torre del Moro condos in Beachwood Canyon
  • Each villa-like structure features original architectural period details such as interior arches, beamed ceilings, fireplaces, wood floors, & more
  • Several units feature private patios or balconies overlooking Hollywood Blvd. and the city

Executive Summary

*** 3rd Price Reduction - $650,000 from original listed price *** Welcome to Las Orquideas, a historic Andalusian garden village built in 1929 by Wilfred Buckland, and immaculately restored by Howell & Padgett in 2019, whose previous works include the iconic Torre del Moro condos in Beachwood Canyon. Las Orquideas perfectly retains that signature glamour of Hollywood's Golden Age while offering modern and luxurious amenities of a new construction property. Perched in the foothills of the Hollywood Hills, this compound has five villa-like structures consisting of nine units and a flex space. This whimsical complex was designed in the early days of Hollywood's Golden Era by Wilfred Buckland, Cecil B. DeMille's frequent art director. Buckland, the original owner, developed the property as a replica of a Spanish hill town with ascending walkways, connecting gardens, and intimate plazas. An abundance of lush mature landscaping lines the stone walkways. Each villa-like structure is covered in coral-colored stucco and features original architectural period details such as interior arches, beamed ceilings, fireplaces, wood floors, and stained glass. Lofty ceiling heights and oversized windows bring in much natural light. A remodel of each unit was completed several years ago with strict attention to retaining each unit's strict authentic integrity and character. Modern updates include custom cabinetry, stainless steel appliances, and an in-unit washer and dryer. Several units feature private patios or balconies overlooking Hollywood Blvd. and the city. Las Orquideas is a Mills Act property with a financial incentive for historic preservation, offering property tax savings for owners who invest in rehabilitating historic buildings. Las Orquideas is part of the Golden Era Collection, four impeccably restored multifamily complexes in Los Angeles. Please contact Kenny Stevens & Alyson Richards for more info.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
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 $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £9,665,250
Price Per Unit £1,073,917
Sale Type Investment
Net Initial Yield 3.71%
Gross Rent Multiplier 21.12
No. Units 9
Property Type Residential
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.35 AC
Building Size 10,573 SF
Average Occupancy 100%
Number of Floors 2
Year Built 1929
Parking Ratio 1.32/1,000 SF

Unit Amenities

  • Balcony
  • Washer/Dryer
  • Bay Window
  • Eat-in Kitchen
  • Wooden Floors
  • Stainless Steel Appliances
  • Views
  • Patio
  • Porch

Site Amenities

  • Controlled Access
  • Courtyard
  • Gated
  • Vintage Building

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
3+3 1 £4,923 1
3+2 1 £4,841 1
2+2 2 £4,773 1
2+1 3 £3,864 1
1+1 2 £3,239 1
Walk Score ®
Walker's Paradise (95)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5549-017-018
Land Assessment
£1,535,865 (2024)
Improvements Assessment
£1,168,816 (2024)
Total Assessment
£2,704,681 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023

zoning

Zoning Code R2-1, Los Angeles (Neighborhood Commercial)
R2-1, Los Angeles (Neighborhood Commercial)
  • Listing ID: 30938627

  • Date on Market: 12/02/2024

  • Last Updated:

  • Address: 1903 Orchid Ave, Los Angeles, CA 90068

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