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$ 3,150,000
Est. payment | /mo
27 Baths
14,502 SqFt
$ 3,150,000
Est. payment | /mo
27 Baths
14,502 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,502 sqft
Price per Sqft $217
MLS Listing ID 26988197
HOA Y/N No
Year Built 1923
Lot Size 9,208 Sqft
Property Description
We are pleased to present a twenty-seven (27) unit plus one (1) non-conforming unit apartment building located at 511 S Union Ave in Los Angeles, California. The subject property is located in a solid Westlake location, just north of 6th St and east of Alvarado St. Located in the heart of Westlake, this classic Spanish-style apartment building offers convenient access to Wilshire Boulevard, Beverly Boulevard, the Metro B Line, and the 101 and 110 freeways. The property features an efficient all-studio unit mix with approximately 25% rental upside, creating an attractive opportunity for investors seeking long-term growth. Additional value-add potential includes legalizing a nonconforming unit as an ADU and renting the vacant storage space for a projected $500 per month. Operational features include separate gas and electric meters, on-site laundry, one parking space, and a recently installed roof. Residents enjoy proximity to MacArthur Park, Vista Hermosa Natural Park, Lafayette Recreation Center, Grocery Outlet, Starbucks, the Grier Musser Museum, and MacArthur Park Shopping Center, among other neighborhood amenities. With significant rental upside, ADU conversion potential, and immediately rentable storage space, the property offers multiple avenues to increase income and enhance long-term value.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Interior
Fireplace No
Exterior
Parking Features Uncovered
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5153004018
Special Listing Condition Standard
Listed by Jason Tuvia Marcus & Millichap #01772495
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Gilbert Ortiz
Agent License ID: 02050087