264 S Union Avenue
Los Angeles, CA, 90026 $ 6,000,000
Bedrooms20 Baths2.0 Sq 11,800 Monthly Estimate*
$ 41,912
Listed by Keller Williams Realty-Studio City
for $6,000,000 with 20 bedrooms and 2 full baths. This 11,800 square foot home was built in 2024 on a lot size of 0.1575.
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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FeaturesGeneralSewer PublicSewer
Zoning LAR3
Garage Spaces 12.0
Pool Features None
Year Built 2024
Property SubType Apartment
Gross Income 423000.0
Community Features Urban
County Los Angeles
Net Operating Income 300758.0
Operating Expense 110040.0
Insurance Expense 7500.0
New Construction Y
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions South of Beverly Blvd
City Los Angeles
Entry Location FIRST FLOOR
View Y/N N
Senior Community Y/N N
Total Units 12
MLS Area C21 - Silver Lake - Echo Park
Lot Size Square Feet 6862.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Union
Listing Terms CashtoNewLoan OwnerMayCarry
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 1000.0
Home Warranty Y/N N
Trash Expense 5000.0
Water Sewer Expense 6000.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 13
Building Area Units SquareFeet
Standard Status Active
Year Built Source Builder
Tax Lot 20
Property Sub Type Additional Apartment
Taxes 70000.0
Cap Rate 5.0
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ExteriorParking Features Assigned
Lot Features Item1115UnitsAcre
Water Source Public
Total Parking 12.0
Lot Size Area 6862.0
Number of Buildings 1
Spa N
Building Area Total 11800.0
Lot Size Acres 0.1575
Lot Size Units SquareFeet
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 12
Number of Separate Electric Meters 12
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 3
Common Walls Item1CommonWall
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Avenue
Laundry Features WasherHookup GasDryerHookup
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesList ByKeller Williams Realty-Studio CityBroker
Affordability Calculator
- Monthly Principal & Interest
- $41,912
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $2,020,253
Percent of Sale Price 66%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
2/6/2024 | $6,000,000 | | Listed Price |