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264 S Union Avenue

Los Angeles (City), CA 90026
  • $6,000,000
  • STATUS: Active
  • ON SITE: 15 Days
  • ID#: SR24025427
UPDATED: 8 min ago
$6,000,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
2024
County:

School Ratings & Info

Listing Agent(s): Behrouz Lavi of Keller Williams Realty-Studio City (818-432-1500)


Description

264 S. Union presents a prime investment opportunity in the vibrant heart of Los Angeles. This newly constructed 12-unit apartment building, completed in 2024, offers a compelling prospect for savvy investors seeking a stake in the thriving Los Angeles real estate market. This contemporary gem features a mix of 8 spacious two-bedroom, one-bathroom residences and 4 cozy one-bedroom, one-bathroom units, all meticulously crafted with high-end materials, modern kitchens, and luxurious baths. Each unit is equipped with its own washer and dryer and a split air conditioning system, catering to the discerning tastes of today's urban professionals. The property's underground parking with 12 parking spots accessible from the alley, adds a sought-after element of convenience, while the rooftop offers stunning panoramic views of downtown Los Angeles, including captivating skylights at night. Its strategic location, just a five-minute drive from Disney Hall, the Los Angeles Courthouse, and the Financial District, underscores its investment appeal. In an area characterized by a shortage of modern and new units, 264 S. Union stands out as a rare opportunity to own a piece of urban luxury. Furthermore, its proximity to transportation hubs, including downtown Echo Park and Silverlake, reinforces its potential for strong returns and sustained demand. The seller is willing to carry a note for qualified buyers, further enhancing the accessibility of this compelling investment opportunity. This investment property is designed to be easy to rent and manage, offering investors a promising income stream at 5% cap proforma.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-21T16:38:24.927. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
www.housesforsalesocal.com/homes/147295107
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264 S Union Avenue Los Angeles (City), CA 90026

  • Price: $6,000,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 8 min ago
  • ID#: SR24025427
0
Beds
0
Baths
0
½ Baths
0.16
Acres
2024
Built
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
264 S. Union presents a prime investment opportunity in the vibrant heart of Los Angeles. This newly constructed 12-unit apartment building, completed in 2024, offers a compelling prospect for savvy investors seeking a stake in the thriving Los Angeles real estate market. This contemporary gem features a mix of 8 spacious two-bedroom, one-bathroom residences and 4 cozy one-bedroom, one-bathroom units, all meticulously crafted with high-end materials, modern kitchens, and luxurious baths. Each unit is equipped with its own washer and dryer and a split air conditioning system, catering to the discerning tastes of today's urban professionals. The property's underground parking with 12 parking spots accessible from the alley, adds a sought-after element of convenience, while the rooftop offers stunning panoramic views of downtown Los Angeles, including captivating skylights at night. Its strategic location, just a five-minute drive from Disney Hall, the Los Angeles Courthouse, and the Financial District, underscores its investment appeal. In an area characterized by a shortage of modern and new units, 264 S. Union stands out as a rare opportunity to own a piece of urban luxury. Furthermore, its proximity to transportation hubs, including downtown Echo Park and Silverlake, reinforces its potential for strong returns and sustained demand. The seller is willing to carry a note for qualified buyers, further enhancing the accessibility of this compelling investment opportunity. This investment property is designed to be easy to rent and manage, offering investors a promising income stream at 5% cap proforma.
Exterior Features

Entry Level 1 Entry Location FIRST FLOOR Lot Features 11-15 Units/Acre Number Of Separate Electric Meters 12 Parking Features Assigned Parking Total 12 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Cap Rate 5 Common Interest Community Apartment Community Features Urban Electric Expense 1000 Garage YN Yes Gross Income 423000 Gross Scheduled Income 423000 Insurance Expense 7500 Land Lease YN No Laundry Features Washer HookupGas Dryer Hookup Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash to New LoanOwner May Carry Maintenance Expense 6000 Net Operating Income 300758 New Construction YN Yes New Taxes Expense 70000 Number Of Separate Gas Meters 12 Number Of Separate Water Meters 1 Operating Expense 110040 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 5000 Vacancy Allowance 12690 Vacancy Allowance Rate 3 Water Sewer Expense 6000 Water Source Public Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-21T16:38:24.927. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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Lori Thompson | Coldwell Banker Realty
19440 Goldenwest Street
Huntington Beach CA, 92648
Listing Agent(s): Behrouz Lavi of Keller Williams Realty-Studio City (818-432-1500)