Multifamily
1029 South Union Avenue
1029 S Union Ave, Los Angeles, CA 90015
Listing Price: $5,400,000
Investment Overview
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 1029 South Union Avenue, a 31-unit apartment complex located just outside of Downtown Los Angeles.
The property places residents within a short distance to dining, shopping, and entertainment options that Downtown Los Angeles & Koreatown offer. Being proximate to the core of Los Angeles offers the added benefit of being near significant employment hubs, worldclass education facilities, and cultural landmarks.
Situated on a 16,166 square foot parcel, the property consists of twenty-two studios and nine one-bedroom units. An estimated 20 studio units have been reconfigured to operate like Jr. 1 Bed/1Bath units. While many of the units have been renovated to modern standards, there below market units that offer meaningful upside.
1029 South Union Avenue offers investors an opportunity to acquire a mid-sized asset near Downtown Los Angeles with on-site parking and modern layouts. The ongoing urban renewal and growth in this neighborhood highlight the potential for sustained growth.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
This asset is being offered for sale alongside 932 Maltman. The properties can be purchased individually or together.
1029 South Union Avenue
Investment Highlights
- An investor can capture 53% rental upside on non-renovated units and additional upside on upgraded units not yet leased at market rents
- Located in close proximity to the vibrant restaurants, cafes, bars, theaters, and employment opportunities in Downtown Los Angeles and Koreatown
- The 2028 Summer Games are expected to boost LA real estate through infrastructure upgrades and major venue improvements like the LA Coliseum
- High-profile downtown office sales in 2024 signal renewed confidence and new owners leasing at reset rates—drawing employers back to the CBD
- A unique opportunity for investors seeking a strategic entry or expansion in LA, where the average deal size is 13 units over the past five years
- The government required seismic retrofit work was completed by ownership
Exclusively Listed By
Financing By
Listing Price: $5,400,000
Investment Highlights
- An investor can capture 53% rental upside on non-renovated units and additional upside on upgraded units not yet leased at market rents
- Located in close proximity to the vibrant restaurants, cafes, bars, theaters, and employment opportunities in Downtown Los Angeles and Koreatown
- The 2028 Summer Games are expected to boost LA real estate through infrastructure upgrades and major venue improvements like the LA Coliseum
- High-profile downtown office sales in 2024 signal renewed confidence and new owners leasing at reset rates—drawing employers back to the CBD
- A unique opportunity for investors seeking a strategic entry or expansion in LA, where the average deal size is 13 units over the past five years
- The government required seismic retrofit work was completed by ownership
Investment Overview
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 1029 South Union Avenue, a 31-unit apartment complex located just outside of Downtown Los Angeles. The property places residents within a short distance to dining, shopping, and entertainment options that Downtown Los Angeles & Koreatown offer. Being proximate to the core of Los Angeles offers the added benefit of being near significant employment hubs, worldclass education facilities, and cultural landmarks. Situated on a 16,166 square foot parcel, the property consists of twenty-two studios and nine one-bedroom units. An estimated 20 studio units have been reconfigured to operate like Jr. 1 Bed/1Bath units. While many of the units have been renovated to modern standards, there below market units that offer meaningful upside. 1029 South Union Avenue offers investors an opportunity to acquire a mid-sized asset near Downtown Los Angeles with on-site parking and modern layouts. The ongoing urban renewal and growth in this neighborhood highlight the potential for sustained growth. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. This asset is being offered for sale alongside 932 Maltman. The properties can be purchased individually or together.
Exclusively Listed By
Financing By
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