Property Listing No Longer Available for Sale

508 S. Union Ave., Los Angeles, CA

Multi-family for Sale - $1,095,000 - 4,720 Sq. Ft. on 0.14 acres


Property Info

CIMLS#970314
Location
  508 S. Union Ave.
  Los Angeles CA 90017
UpdatedDecember 12th, 2017
TypeMulti-family
Price$1,095,000
Building4,720 Sq. Ft.
Land0.14 acres

Property Description

KW Commercial is pleased to present this 4,720 SF Victorian Style Apartment building in Westlake, Los Angeles. It is located on 6,225 SF R4 zoned lot.

The property consists of 2 buildings totaling 7 units. The front building is 2 stories and has 6 total units. The ground floor has a 4 bedroom 2 bathroom unit, which is vacant. The second floor consists of a 1 bedroom 1 bathroom unit & 4 bachelor units, one of which is vacant. The bachelor units all have a shared bathroom. The rear building is a 4 bedroom 2 bathroom house which is currently occupied. All tenants are currently on a month to month tenancy.

The R4 zoning on the property may give the future owner the ability to develop. (Buyer to do their own due diligence with the City of Los Angeles.)

This opportunity located in one of the busiest areas of Los Angeles will attract an investor or a developer looking to take advantage of the properties R4 zoning.

Location Description:

The subject property is located within the Westlake Community of Los Angeles. It is just 5 parcels north of the signalized intersection of Union Ave. & W. 6th St.

6th St. is considered a commercial thorough in Los Angeles with a daily car traffic count of over 25,000 cars per day.

This area is considered a walker's paradise with a score of 94.

Transit is excellent and convenient with a transit score of 85.

It is less than a 3-minute walk to the 6th St./Burlington Bus Stop & 1/2 of a mile from the Westlake/MacArthur Park Metro Station, with stops for the Red & Purple line. It is also nestled between 10, 101, & 110 Freeways.

It is located in one of Los Angeles's busiest neighborhood with over 100,000 people residing within a 1-mile radius and over 550,000 people residing within a 3-mile radius.


Financials


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