526 Union Dr - Apartments FOR SALE


Los Angeles, CA 90017- Westlake North
$4,750,000 USD
310-909-5406
526 Union Dr, Los Angeles, CA for Sale
$4,750,000 USD
Apartments - FOR SALE
1/6
null | 6.73% Cap Rate

526 Union Dr
Los Angeles, CA 90017
Westlake North


HIGHLIGHTS

  • The Neema Group of Marcus & Millichap is pleased to present 526 Union Dr, a 51-unit multifamily investment opportunity in Westlake
  • At the asking price, the property is being offered at a 6.73% CAP rate at 7.42 GRM on current income
  • Additional 36% rental upside achievable as units turn through interior renovations
  • The property features a unit mix of 45 singles and six one-bedrooms

OVERVIEW

The Neema Group of Marcus & Millichap is pleased to present 526 Union Dr, a 51-unit multifamily investment opportunity in the highly walkable 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 45 singles and six one-bedrooms and is being offered at a 6.73% CAP rate and 7.42 GRM on current income, with an additional 36% rental upside achievable through interior renovations as units turn. The building is separately metered for gas and electricity and includes an on-site laundry room with four washers and four dryers under a lease with Wash. Boasting a high Walk Score of 93, the property is less than a mile from the Metro A-E Rail Lines and Metro Local Lines along 6th St, providing convenient transit options. It is also within walking distance of major retailers such as The Home Depot, Rite Aid, and McDonald’s, among others along 6th St. The Westlake neighborhood offers a central location with a short commute to Downtown Los Angeles, Hollywood, and Koreatown, with nearby attractions including MacArthur Park, Echo Park, Dodger Stadium, and The Broad Museum. This offering presents an exceptional opportunity to acquire a well-positioned asset with immediate income and future value-add potential in a thriving Los Angeles submarket.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$148 USD /SF

# OF UNITS

51

PRICE/UNIT

$93,137

CAP RATE

6.73%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Carlton Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

8,001 SF

ZONING

R5-2

APN/PARCEL ID

5153-006-016

ASK ABOUT THIS PROPERTY

Patricia EscobarMarcus & MillichapMore Info
310-909-5406

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Patricia EscobarMarcus & MillichapMore Info
310-909-5406

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.