313 N Union Avenue, Los Angeles, CA 90026
Property · 2 recorded sales since 2021
Sold January 2023
Listing Agent: Julio Ruiz (DRE #01911261) · Listing Office: Global Platinum Properties, Inc. · Contact: 818-524-0706 · Bought with: Subscriber Non · Non-Participant Office · MLS #22217433 · Source: CRMLS
About this property
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.
Listing description from the January 2023 sale, as reported to CRMLS.
Sale history
