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Multifamily

Union.514

514 Union Dr, Los Angeles, CA 90017

Listing Price: $4,500,000

Cap Rate
7.40%
Number of Units
47
GRM
7.06
Price/Unit
$95,745
Price/Gross SF
$174.96
Gross SF
25,720

Investment Overview

• Marcus & Millichap is pleased to present 514 Union Dr, a 47-unit multifamily investment opportunity in the 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 39 singles and eight one-bedrooms
• At the asking price, the property is being offered at a 7.40% CAP rate at 7.06 GRM on current income with an additional 27% rental upside achievable as units turn through interior renovations
• Potential for additional upside as an additional ADU may be possible (Buyer to verify)
• The building is separately metered for electricity and has an on-site laundry room with four washers and four dryers (lease with Wash)
• High Walk Score of 93, the property is less than a mile to the Metro A-E Rail Lines, and Metro Local Lines along 6th St
• Walking distance to retailers such as The Home Depot, Rite Aid, and McDonald’s, among others along 6th St
• This neighborhood of Westlake is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Koreatown. Proximity to MacArthur Park, Echo Park, Doger Stadium, and The Broad Museum

Investment Highlights

  • We are pleased to present 514 Union Dr, a 47-unit multifamily investment opportunity in the Westlake neighborhood of Los Angeles located just north of 6th St and a half-mile from Good Samaritan
  • The property features a unit mix of 39 singles and eight one-bedrooms
  • At the asking price, the property is being offered at a 7.40% CAP rate at 7.06 GRM on current income with an additional 27% rental upside achievable as units turn through interior renovations
  • Potential for additional upside as an additional ADU may be possible (Buyer to verify)
  • The building is separately metered for electricity and has an on-site laundry room with four washers and four dryers (lease with Wash)
  • High Walk Score of 93, the property is less than a mile to the Metro A-E Rail Lines, and Metro Local Lines along 6th St
  • Walking distance to retailers such as The Home Depot, Rite Aid, and McDonald's, among others along 6th St
  • This neighborhood of Westlake is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Koreatown. Proximity to MacArthur Park, Echo Park, Doger Stadium, and The Broad Museum

Exclusively Listed By

Financing By

Multifamily

Union.514

Listing Price: $4,500,000

Cap Rate
7.40%
Number of Units
47
GRM
7.06
Price/Unit
$95,745
Price/Gross SF
$174.96
Gross SF
25,720

Investment Highlights

  • We are pleased to present 514 Union Dr, a 47-unit multifamily investment opportunity in the Westlake neighborhood of Los Angeles located just north of 6th St and a half-mile from Good Samaritan
  • The property features a unit mix of 39 singles and eight one-bedrooms
  • At the asking price, the property is being offered at a 7.40% CAP rate at 7.06 GRM on current income with an additional 27% rental upside achievable as units turn through interior renovations
  • Potential for additional upside as an additional ADU may be possible (Buyer to verify)
  • The building is separately metered for electricity and has an on-site laundry room with four washers and four dryers (lease with Wash)
  • High Walk Score of 93, the property is less than a mile to the Metro A-E Rail Lines, and Metro Local Lines along 6th St
  • Walking distance to retailers such as The Home Depot, Rite Aid, and McDonald's, among others along 6th St
  • This neighborhood of Westlake is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Koreatown. Proximity to MacArthur Park, Echo Park, Doger Stadium, and The Broad Museum

Investment Overview

• Marcus & Millichap is pleased to present 514 Union Dr, a 47-unit multifamily investment opportunity in the 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 39 singles and eight one-bedrooms • At the asking price, the property is being offered at a 7.40% CAP rate at 7.06 GRM on current income with an additional 27% rental upside achievable as units turn through interior renovations • Potential for additional upside as an additional ADU may be possible (Buyer to verify) • The building is separately metered for electricity and has an on-site laundry room with four washers and four dryers (lease with Wash) • High Walk Score of 93, the property is less than a mile to the Metro A-E Rail Lines, and Metro Local Lines along 6th St • Walking distance to retailers such as The Home Depot, Rite Aid, and McDonald’s, among others along 6th St • This neighborhood of Westlake is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Koreatown. Proximity to MacArthur Park, Echo Park, Doger Stadium, and The Broad Museum

Exclusively Listed By

Financing By

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