526 Union Drive, Los Angeles, CA 90017
  • MLS#: 25517357 ( )
  • Street Address: 526 Union Drive
  • Viewed: 4
  • Price: $4,750,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1926
  • Bldg sqft: 0
  • Days On Market: 57
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90017
  • Provided by: Marcus & Millichap
  • Contact: Neema Neema
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    We are pleased to present 526 Union Dr, a 51 unit multifamily investment opportunity in the highly walkable Westlake neighborhood of Los Angeles, located just north of 6th St and a half mile from Good Samaritan Hospital. The property features a unit mix of 45 singles and six one bedrooms and is being offered at a 6.73% CAP rate and 7.42 GRM on current income, with an additional 36% rental upside achievable through interior renovations as units turn. The building is separately metered for gas and electricity and includes an on site laundry room with four washers and four dryers under a lease with Wash. Boasting a high Walk Score of 93, the property is less than a mile from the Metro A E Rail Lines and Metro Local Lines along 6th St, providing convenient transit options. It is also within walking distance of major retailers such as The Home Depot, Rite Aid, and McDonald's, among others along 6th St. The Westlake neighborhood offers a central location with a short commute to Downtown Los Angeles, Hollywood, and Koreatown, with nearby attractions including MacArthur Park, Echo Park, Dodger Stadium, and The Broad Museum. This offering presents an exceptional opportunity to acquire a well positioned asset with immediate income and future value add potential in a thriving Los Angeles submarket.
Property Location and Similar Properties
Request More Information
  • All fields are required.
Contact Patrick Adams
Contacting Patrick Adams
  • All fields are required.
Schedule A Showing
Schedule a Showing.
  • All fields are required.
Check this box to Register with us:
Features
Building Area Total
  1. 32001.00
Cooling
  1. None
Country
  1. US
Heating
  1. None
Levels
  1. Three Or More
Netoperatingincome
  1. 319521.00
Parcel Number
  1. 5153006016
Parking Features
  1. None
Sourcesystemkey
  1. 25517357:CLAW
Totalexpenses
  1. 288823.00
Year Built
  1. 1926
Zoning
  1. LAR4