264 South Union Avenue

Los Angeles, CA 90026

$6,000,000
Price
3
Beds
12
Baths
11,800 Sq. Ft.
$508 / Sq. Ft.
11,800
Sq. Ft.
$508
per Sq. Ft.

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...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.
  1. Listed by Behrouz Lavi • DRE #01482721 • Brokerage DRE #01428774 • Keller Williams Realty-Studio City • 818-235-7290

Property Details for 264 South Union Avenue

Parking Spaces Total
12
Private Pool
No
Total Units
12.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
11800
Assessor Parcel Number
5153-010-029
Property Attached YN
true

Location

Listing Courtesy of Keller Williams Realty-Studio City, Behrouz Lavi, DRE #01482721
Add your commute
LISTING UPDATED: 02/18/2024 01:58 PM

Property Details for 264 South Union Avenue

StatusActive
MLS #SR24025427
Days on Market87
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Realty-Studio City, Behrouz Lavi, DRE #01482721
Add your commute

Building Information for 264 South Union Avenue

Building/Complex264 S Union AveFloor-Stories3Residences-Pet Policy-Year Built2024Building Size-

Payment Calculator

$34,439 per month

30 year fixed, 7.25% Interest

Principal and Interest

$32,744

Property Taxes

$1,695

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 264 South Union Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $423,000
  • Gross Scheduled Income: $423,000
  • Vacancy Allowance: 12690
  • Vacancy Allowance Rate: 3
  • Net Operating Income: $300,758
  • Gross Multiplier: 14.2
  • Cap Rate: 5.0
Expense Details
  • Operating Expense: $110,040
  • New Taxes Expense: $70,000
  • Electric Expense: $1,000
  • Insurance Expense: $7,500
  • Maintenance Expense: $6,000
  • Professional Management Expense: $14,640
  • Trash Expense: $5,000
  • Water Sewer Expense: $6,000
  • Total Expenses: $110,040
Tax / Assessment Info
  • Tax Block: C
  • Tax Tract Number: 029
  • Tax Census Tract: 2083.01
  • CFD/Mello-Roos Fee: $182
  • Tax Lot: 20
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
Exterior Features
  • Entry Location: FIRST FLOOR
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 11-15 Units/Acre
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 12
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 12
  • Carport Spaces: 0
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 24792
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 11000
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1

Property History for 264 South Union Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 264 South Union Avenue

Taxable ValueLand$1,575,453Additions$105,117Total$1,680,570
Tax Record2023$20,339 ($1,695 / month)
Home Facts
Beds2Stories1Lot Size6,860 SqFtStyleSingle Family ResidenceYear Built1901ZoningLAR3CountyLOS ANGELESAPN5153-010-029

Schools near 264 South Union Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Union Avenue Elementary School
PublicK to 5

Sal Castro Middle School
Public6 to 8

Academic Leadership Community School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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264 South Union Avenue is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on February 4, 2024 by Keller Williams Realty-Studio City, it's currently listed at $6,000,000. It has been on the market for a total of 87 days and was last sold on July 29, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Union Avenue Elementary School, Sal Castro Middle School and Contreras Learning Center-School Of Social Justice. 264 South Union Avenue is a 3-bed, 12-bath, 11,800 sqft multi-family home built in 2024.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty-Studio City, Behrouz Lavi, DRE #01482721

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.