513 Union Avenue, Los Angeles

$2,295,000

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1 Bed
1 Bath
6,102 Sqft
.21 Acre
0 Garage

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.

Essential Information

MLS® #
24375585
Price
$2,295,000
Bedrooms
1
Bathrooms
1.00
Square Footage
6,102
Acres
0.21
Year Built
1922
Type
Residential Income
Style
Bungalow
Status
Active

Community Information

Address
513 Union Avenue
Area
C42 - Downtown L.A.
City
Los Angeles
County
Los Angeles
Zip Code
90017
Senior Community
N

Amenities

Parking
None
Garages
None

Interior

Heating
None
Cooling
None
# of Stories
1
Stories
One

Additional Information

Date Listed
April 2nd, 2024
Days on Market
46
Zoning
LAR4

Listing Details

Agent
Taylor Avakian
Office
TAYVAY Corporation

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Based on information from California Regional Multiple Listing Service, Inc. as of May 18th, 2024 at 5:25am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.