514 Union Drive Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90017
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 25,720 sqft
Price per Sqft $174
MLS Listing ID CL25517347
Year Built 1926
Lot Size 8,406 Sqft
Property Sub-Type Other
Property Description
We are pleased to present 514 Union Dr, a 47-unit multifamily investment opportunity located in the desirable Westlake neighborhood of Los Angeles. Situated just north of 6th Street and only half a mile from Good Samaritan Hospital, the property boasts a central location that offers easy access to the region's most sought-after amenities. The building features a well-balanced unit mix of 39 singles and 8 one-bedroom apartments, offering strong rental demand in a neighborhood known for its accessibility and proximity to major employers and transit options. At the asking price, 514 Union Dr presents an attractive investment at a 7.40% CAP rate and a 7.06 GRM, based on current income, with substantial upside potential. A 27% rental increase is achievable as units turn through interior renovations, creating an opportunity for increased revenue. In addition to the immediate upside potential, there may also be further value-add opportunities, such as the possible addition of an Accessory Dwelling Unit (ADU), subject to buyer verification and applicable zoning laws. The property is separately metered for electricity and includes an onsite laundry room with four washers and dryers leased through Wash, enhancing convenience for tenants and generating additional revenue streams. With a Wal
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating None
Cooling None
Building
New Construction No