We are 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.
Property Details
Price:
$4,750,000
MLS #:
25517357
Status:
Active
Baths:
0
Address:
526 Union Drive
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Mar 1, 2025
State:
CA
ZIP:
90017
Lot Size:
7,807 sqft / 0.18 acres (approx)
Year Built:
1926
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Schools
Interior
Cooling
None
Heating
None
Exterior
Parking Features
None
Parking Spots
0.00
Stories Total
5
Financial
Map
Community
- Address526 Union Drive Los Angeles CA
- AreaC42 – Downtown L.A.
- CityLos Angeles
- CountyLos Angeles
- Zip Code90017
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526 Union Drive
Los Angeles, CA
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