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    526 S Union Ave

    Los Angeles, CA 90017
    • $4,700,000
    • STATUS: Active
    • ON SITE: 89 days
    • MLS #: 21-688350
    UPDATED: 137 min ago
    $4,700,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,960
      SQFT
    • $363
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1922
    County:

    School Ratings & Info

    Description

    The G.MA Group of eXp Commercial, as exclusive advisor, is offering for sale Union Apartments, a 30-unit multifamily New York style building located 526 S Union Avenue in Downtown Los Angeles. The property is strategically located and surrounded by a rising skyline, restaurants and shops with a walking score of 97 and 83 transit score. In a strategic plan, 17 units have been turned and renovated to attract market rents. There is, however, plenty of upside for an investor to achieve similar success in a value-add play by turning the remaining 13 non-renovated units and recovering close to 25% in lost income, all while cash flowing in the process.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-11T23:42:28.607. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.desertarealuxuryhomes.com/homes/114170235
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    526 S Union Ave Los Angeles, CA 90017

    • Price: $4,700,000
    • Status: Active
    • Updated: 137 min ago
    • MLS #: 21-688350
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    12,960
    SQFT
    $363
    $/SQFT
    1922
    Built
    Neighborhood:
    Downtown L.A.
    County:
    Los Angeles
    Area:
    Downtown L.A.
    Property Description
    The G.MA Group of eXp Commercial, as exclusive advisor, is offering for sale Union Apartments, a 30-unit multifamily New York style building located 526 S Union Avenue in Downtown Los Angeles. The property is strategically located and surrounded by a rising skyline, restaurants and shops with a walking score of 97 and 83 transit score. In a strategic plan, 17 units have been turned and renovated to attract market rents. There is, however, plenty of upside for an investor to achieve similar success in a value-add play by turning the remaining 13 non-renovated units and recovering close to 25% in lost income, all while cash flowing in the process.
    Exterior Features

    Cross Streets 6th Street And Alvarado Exterior Construction StuccoWood Siding Levels Three Or More Lot Description Back YardStreet PavedStreet LightingSingle LotSidewalksResident Manager Lot Location CityNear Public Transit Lot Size Area 6230 Other Structures None Parking Garage None Paved YN Yes Roof Flat Style Low Rise Total Parking 0 View Description City LightsCityHillsMountainsPanoramic View YN Yes

    Interior Features

    Baths Total 30.00 Cooking Appliances OvenConvection OvenCooktop - Gas Cooling Ceiling FanWall/Window Equipment DryerDishwasherCeiling FanCableWasherSolar PanelsRefrigeratorRange/Oven Flooring Wood Heating Central Interior Features 2 StaircasesBasementCommon Walls Kitchen Features RemodeledCounter Top Laundry Laundry Area Laundry Equipment Lease Water Heater Features Water Heater UnitSolar

    Property Features

    Assessed Total Value 3100000 Gross Income 372440 Gross Operating Income 361266 Like Units1 30 Net Operating Income 212657.00 Number Of Buildings 1 Number Of Units 30 Owner Pays GasWater Property Condition FixerRepair Cosmetic Rent Control YN Yes Sale Type Standard Security Features Card/Code AccessSmoke DetectorResident ManagerExterior Security Lights Sewer In Street Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays Electricity Total Annual Expense 148610 TVServices Cable Tv Type Of Units Singles Water Public Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar4

    Listing provided courtesy of Guillermo Ma DRE#01350503 of Exp Realty Of California Inc.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-11T23:42:28.607. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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