513 South Union Avenue

513 South Union Avenue

Los Angeles, CA 90017

$2,295,000
Price
12
Beds
12
Baths
6,102 Sq. Ft.
$376 / Sq. Ft.
6,102
Sq. Ft.
$376
per Sq. Ft.
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Description

513 S Union Ave is a 12-unit Apartment Building constructed in 1922. Situated in Westlake, one of the most active areas for development in the Greater Los Angeles region, this property offers investors an opportunity to tap into the potential of one of Los Angeles' most dynamic neighborhoods. Boasting a zoning designation of LAR4, this property provides flexibility and potential for expansion, complemented by the stability and reliable financing offered by a Freddie loan with a 63% Loan-to-Value...513 S Union Ave is a 12-unit Apartment Building constructed in 1922. Situated in Westlake, one of the most active areas for development in the Greater Los Angeles region, this property offers investors an opportunity to tap into the potential of one of Los Angeles' most dynamic neighborhoods. Boasting a zoning designation of LAR4, this property provides flexibility and potential for expansion, complemented by the stability and reliable financing offered by a Freddie loan with a 63% Loan-to-Value ratio until May 2026, including a nominal assumption fee of 1%. Conveniently located, residents enjoy easy access to job centers and entertainment hubs such as Downtown Los Angeles,Hollywood, and Koreatown. This strategic positioning enhances the property's appeal, offering investors a gateway to a thriving urban landscape ripe with opportunity. Additionally, the property benefits from seamless access toseveral major highways, including Interstate 10 (I-10), Interstate110 (I-110), and US Route 101 (US-101), facilitating convenient travel throughout the Greater Los Angeles area. With its strategic location, favorable financing options, and abundant growth potential, 513 S Union Ave presents an exceptional opportunity for those seeking to blend stability with long-term growth in the vibrant landscape of Los Angeles.
  1. Listed by Taylor Avakian • DRE #02060040 • Brokerage DRE #02060040 • TAYVAY Corporation

Property Details for 513 South Union Avenue

Zoning
LAR4
Style
Bungalow
Parcel Number
5153004017
Total Units
12.0
Living Area
6102
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
0

Location

Listing Courtesy of TAYVAY Corporation, Taylor Avakian, DRE #02060040
Add your commute
LISTING UPDATED: 04/10/2024 12:01 AM

Property Details for 513 South Union Avenue

StatusActive
MLS #24-375585
Days on Market31
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.21 AC / 9,235 SF
CountyLos Angeles County

Location

Listing Courtesy of TAYVAY Corporation, Taylor Avakian, DRE #02060040
Add your commute

Building Information for 513 South Union Avenue

Stories1Residences-Year Built1922Building Size-Lot Size0.21 AC / 9,235 SF

Payment Calculator

$14,618 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,525

Property Taxes

$2,093

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 513 South Union Avenue

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 9
  • Type Of Units: 1+1
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $196,889
  • Net Operating Income: $122,111.82
  • Gross Income: $196,889
  • Cap Rate: 5.32%
  • Gross Rent Multiplier: $11.07
  • Total Annual Expense: 74777.58
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2116
  • Lot Size Square Feet: 9235
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-02-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,439.00
  • Unit Actual Rent: $17,271.00
  • Unit Projected Rent: $23,940.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $17,497.00
  • Assessed Improvement Percent: 0.88
  • Assessed Land Value: $1,968,562.00
  • Assessed Land Percent: 99.12
  • Assessed Total Value: $1,986,059.00

Property History for 513 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 513 South Union Avenue

Taxable ValueLand$1,968,562Additions$19,897Total$1,988,459
Tax Record2023$25,119 ($2,093 / month)
Home Facts
Total Finished SqFt6,102 SqFtAbove Grade Finished SqFt6,102 SqFtLot Size9,216 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLAR4CountyLOS ANGELESAPN5153-004-017

Schools near 513 South Union Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Union Avenue Elementary School
Public - K to 5
John H. Liechty Middle School
Public - 6 to 8
Edward R. Roybal Learning Center
Public - 9 to 12
Miguel Contreras Learning Complex School
Public - 9 to 12
Rating
School
Distance
Union Avenue Elementary School
PublicK to 5

John H. Liechty Middle School
Public6 to 8

Edward R. Roybal Learning Center
Public9 to 12

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.

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More information about 513 South Union Avenue, Los Angeles, CA 90017

513 South Union Avenue is a multi-family home for sale in Los Angeles, CA 90017. This property was listed for sale on April 2, 2024 by TAYVAY Corporation, it's currently listed at $2,295,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Union Avenue Elementary School, John H. Liechty Middle School and Edward R. Roybal Learning Center. 513 South Union Avenue is a 12-bed, 12-bath, 6,102 sqft multi-family home built in 1922.

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 TAYVAY Corporation, Taylor Avakian, DRE #02060040

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.