Property Details

Price $13,000,000

Year Built 1929

# of Units 10

Price P/ Unit $1,300,000

Sq. ft. 10,573 SF

Price p/ Sq. ft. $1,230

Current Cap Rate 3.30%

Proforma Cap Rate 3.53%

Lot Size 15,130

Zoning LAR2-1XL

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About the Property

Las Orquideas is an Andalusian Garden Village nestled at the base of the Hollywood Hills, near the iconic Magic Castle. This compound features five villa-like duplexes consisting of ten legal units. The owners are looking into the possibility of an ADU, which would be the 11th unit. This whimsical complex was designed in the early days of the Golden Era of Hollywood by Wilfred Buckland, Cecil B. DeMille’s frequent art director. Buckland, the original owner designed the property for himself as a replica of a Spanish hill town with ascending walkways, connecting gardens, and intimate plazas. Each villa-like duplex is covered in coral-colored stucco and features original architectural period details such as interior arches, beamed ceil, fireplaces, wood floors, and stained glass. Lofty ceiling heights and oversized windows bring in much natural light. An abundance of lush mature landscaping lines the stone walkways. 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.

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