313 North Union Avenue

Los Angeles, CA 90026

$1,335,000
Last Sold Price
8
Beds
6
Baths
4,026 Sq. Ft.
$332 / Sq. Ft.
4,026
Sq. Ft.
$332
per Sq. Ft.

Description

Amazing Value-Add 6 units in the trendy Echo Park area priced at only 249k/door with great current cash flow plus 69% upside in rents. Incredible Current Cap Rate of 4.7% and 14.5 GRM with upside to 9.3% cap rate and 8.6 GRM on the proforma. Now delivered with 1 vacancy for immediate upside and renovation. This building has a diverse Unit Mix consisting of 2 (2bed/1bath) and 4 (1bed/1bath). Each unit is Individually metered for Gas & Electricity. The seller has Preliminary plans to add 3 ADUs including...Amazing Value-Add 6 units in the trendy Echo Park area priced at only 249k/door with great current cash flow plus 69% upside in rents. Incredible Current Cap Rate of 4.7% and 14.5 GRM with upside to 9.3% cap rate and 8.6 GRM on the proforma. Now delivered with 1 vacancy for immediate upside and renovation. This building has a diverse Unit Mix consisting of 2 (2bed/1bath) and 4 (1bed/1bath). Each unit is Individually metered for Gas & Electricity. The seller has Preliminary plans to add 3 ADUs including 1 Attached ADU and 2 Detached ADUs for additional future upside. 313 N Union is located in one of the hottest multifamily communities in one of the strongest and sought-after rental markets in LA and is ideally located within minutes of the iconic Echo Park Lake, Historic Filipino Town, Silverlake, DTLA, and within a walking distance to many new hip neighborhood hot spots.
  1. Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.

Property Details for 313 North Union Avenue

Zoning
LARD2
Parcel Number
5159004007
Total Units
6.0
Living Area
4026
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
3%
Lot Size Area
6906

Location

Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

Sold By Non-Participant Office, Subscriber Non, DRE #13252; Keller Williams Realty-Los Feliz, Myrna Averia, DRE #02098059

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LISTING UPDATED: 01/11/2023 03:56 PM

Property Details for 313 North Union Avenue

StatusSold
MLS #22-217433
Days on Market42
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
Lot Size0.16 AC / 6,906 SF
CountyLos Angeles County

Location

Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

Sold By Non-Participant Office, Subscriber Non, DRE #13252; Keller Williams Realty-Los Feliz, Myrna Averia, DRE #02098059

Add your commute

Building Information for 313 North Union Avenue

Stories2Residences-Year Built1961Building Size-Lot Size0.16 AC / 6,906 SF

Payment Calculator

$8,388 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,286

Property Taxes

$1,102

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 313 North Union Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $103,032
  • Net Operating Income: $69,768.00
  • Gross Income: $103,032
  • Cap Rate: 4.70%
  • Gross Rent Multiplier: $14.50
  • Owner Pays: Water
  • Total Annual Expense: 30173
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1585
  • Lot Size Square Feet: 6906
Parking Details
Parking Details
  • Parking Garage: Unassigned, Uncovered, Garage Is Detached, Gated
  • Total Parking: 8
  • Parking Features: Unassigned, Uncovered, Gated
  • Attached Garage: No
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Laminate
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-10-2022
  • Tenant Pays: Gas, Electricity, Cable TV
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $1,286.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $840.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $1,560.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $2,250.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $1,285.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $1,365.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $83,554.00
  • Assessed Improvement Percent: 72.94
  • Assessed Land Value: $30,997.00
  • Assessed Land Percent: 27.06
  • Assessed Total Value: $114,551.00

Property History for 313 North 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 313 North Union Avenue

Taxable ValueLand$826,200Additions$193,800Total$1,020,000
Tax Record2023$13,227 ($1,102 / month)
Home Facts
Total Finished SqFt4,026 SqFtAbove Grade Finished SqFt4,026 SqFtLot Size6,906 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningLARD2CountyLOS ANGELESAPN5159-004-007

Schools near 313 North Union Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Charter - K to 8
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Camino Nuevo Charter Academy No. 4
CharterK to 8

Sal Castro Middle School
Public6 to 8

Miguel Contreras Learning Complex 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.

Similar Homes

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Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

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.