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Multifamily

Union.526

526 Union Dr, Los Angeles, CA 90017

Listing Price: $4,750,000

Cap Rate
6.73%
Number of Units
51
GRM
7.42
Price/Unit
$93,137
Price/Gross SF
$148.43
Gross SF
32,001

Investment Overview


Marcus & Millichap is pleased to present 526
Union Dr, a 51-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

At the asking price, the property is being offered at
a 6.73% CAP rate at 7.42 GRM on current income
with an additional 36% rental upside achievable as
units turn through interior renovations

The building is separately metered for gas and
electricity and has an on-site laundry room with
four washers and four dryers (lease with Wash)
and new security cameras; significant cap ex has
been invested by ownership into the systems and
common areas

The property features a unit mix of 45 singles and six
one-bedrooms

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, Dodger Stadium, and The Broad Museum

Investment Highlights

  • Pleased to present 526 Union Dr, a 51-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
  • At the asking price, the property is being offered at a 6.73% CAP rate at 7.42 GRM on current income with an additional 36% rental upside achievable as units turn through interior renovations
  • Separately metered for gas and electricity and has an on-site laundry room with four washers and four dryers (lease with Wash) and new security cameras; significant cap ex has been invested
  • The property features a unit mix of 45 singles and six one-bedrooms
  • 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, Dodger Stadium, and The Broad Museum

Exclusively Listed By

Financing By

Multifamily

Union.526

Listing Price: $4,750,000

Cap Rate
6.73%
Number of Units
51
GRM
7.42
Price/Unit
$93,137
Price/Gross SF
$148.43
Gross SF
32,001

Investment Highlights

  • Pleased to present 526 Union Dr, a 51-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
  • At the asking price, the property is being offered at a 6.73% CAP rate at 7.42 GRM on current income with an additional 36% rental upside achievable as units turn through interior renovations
  • Separately metered for gas and electricity and has an on-site laundry room with four washers and four dryers (lease with Wash) and new security cameras; significant cap ex has been invested
  • The property features a unit mix of 45 singles and six one-bedrooms
  • 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, Dodger Stadium, and The Broad Museum

Investment Overview

Marcus & Millichap is pleased to present 526 Union Dr, a 51-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 At the asking price, the property is being offered at a 6.73% CAP rate at 7.42 GRM on current income with an additional 36% rental upside achievable as units turn through interior renovations The building is separately metered for gas and electricity and has an on-site laundry room with four washers and four dryers (lease with Wash) and new security cameras; significant cap ex has been invested by ownership into the systems and common areas The property features a unit mix of 45 singles and six one-bedrooms 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, Dodger Stadium, and The Broad Museum

Exclusively Listed By

Financing By

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