CA > Los Angeles
Los Angeles, CA 90017,514 Union DR
Los Angeles, CA 90017,514 Union DR
Los Angeles, CA 90017,514 Union DR
Los Angeles, CA 90017,514 Union DR
Los Angeles, CA 90017,514 Union DR
Los Angeles, CA 90017,514 Union DR
John Dandoy
John Dandoy

Broker | License ID: 01384009/01857852

+1(909) 224-1278

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$ 4,700,000

$ 4,500,000 4.4%

Est. payment | /mo

8 Beds

47 Baths

25,720 SqFt

$ 4,700,000

$ 4,500,000 4.4%

Est. payment | /mo

8 Beds

47 Baths

25,720 SqFt

Key Details

Sold Price $4,700,000

Property Type Single Family Home

Listing Status Sold

Purchase Type For Sale

Square Footage 25,720 sqft

Price per Sqft $182

MLS Listing ID 25517347

Sold Date 08/27/25

Bedrooms 8

HOA Y/N No

Year Built 1926

Lot Size 8,407 Sqft

Property Description

We are pleased to present 514 Union Dr, a 47-unit multifamily investment opportunity located in the desirable Westlake neighborhood of Los Angeles. Situated just north of 6th Street and only half a mile from Good Samaritan Hospital, the property boasts a central location that offers easy access to the region's most sought-after amenities. The building features a well-balanced unit mix of 39 singles and 8 one-bedroom apartments, offering strong rental demand in a neighborhood known for its accessibility and proximity to major employers and transit options. At the asking price, 514 Union Dr presents an attractive investment at a 7.40% CAP rate and a 7.06 GRM, based on current income, with substantial upside potential. A 27% rental increase is achievable as units turn through interior renovations, creating an opportunity for increased revenue. In addition to the immediate upside potential, there may also be further value-add opportunities, such as the possible addition of an Accessory Dwelling Unit (ADU), subject to buyer verification and applicable zoning laws. The property is separately metered for electricity and includes an onsite laundry room with four washers and dryers leased through Wash, enhancing convenience for tenants and generating additional revenue streams. With a Walk Score of 93, the property benefits from its prime location within walking distance to key transit lines, including the Metro A-E Rail Lines and Metro Local Lines along 6th Street. The surrounding Westlake neighborhood provides a vibrant urban environment, offering quick commutes to Downtown Los Angeles, Hollywood, and Koreatown. Additionally, tenants will enjoy easy access to recreational destinations such as MacArthur Park, Echo Park, Dodger Stadium, and cultural landmarks like The Broad Museum. This location is ideal for tenants seeking a centrally located, well-connected living experience, and presents investors with a rare opportunity in one of Los Angeles' most dynamic neighborhoods.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR4

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features None

Building

Story 4

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5153006018

Special Listing Condition Standard

CRMLS – RECore
Listed by Neema Ahadian Marcus & Millichap
Bought with Neema Ahadian Marcus & Millichap
John Dandoy

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(909) 224-1278

jrdandoy@gmail.com

101 N Indian Hill Blvd STE C1-208, Claremont, California, 91711, United States

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514 Union DR