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264 S Union Ave Los Angeles, CA 90026

$6,000,000

20 Beds
12 Baths
11,800 Sq.Ft.

For Sale

$6,000,000 Get Pre-Qualified

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Map preview of 264 S Union Ave, Los Angeles, CA 90026

Property Overview: 264 S Union Ave Los Angeles, CA has 20 bedrooms, 12 bathrooms, 11,800 living square feet and 6,862 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 264 S. Union presents a prime investment opportunity in the vibrant heart of Los Angeles. This newly constructed 12-unit apartment building, completed in 2024, offers a compelling prospect for savvy investors seeking a stake in the thriving Los Angeles real estate market. This contemporary gem features a mix of 8 spacious two-bedroom, one-bathroom residences and 4 cozy one-bedroom, one-bathroom units, all meticulously crafted with high-end materials, modern kitchens, and luxurious baths. Each unit is equipped with its own washer and dryer and a split air conditioning system, catering to the discerning tastes of today's urban professionals. The property's underground parking with 12 parking spots accessible from the alley, adds a sought-after element of convenience, while the rooftop offers stunning panoramic views of downtown Los Angeles, including captivating skylights at night. Its strategic location, just a five-minute drive from Disney Hall, the Los Angeles Courthouse, and the Financial District, underscores its investment appeal. In an area characterized by a shortage of modern and new units, 264 S. Union stands out as a rare opportunity to own a piece of urban luxury. Furthermore, its proximity to transportation hubs, including downtown Echo Park and Silverlake, reinforces its potential for strong returns and sustained demand. The seller is willing to carry a note for qualified buyers, further enhancing the accessibility of this compelling investment opportunity. This investment property is designed to be easy to rent and manage, offering investors a promising income stream at 5% cap proforma.

Listed by Behrouz Lavi | BRE #01482721 | Keller Williams Realty-Studio City

Last checked: 7 minutes ago | Last updated: February 19th, 2024 | Source CRMLS | DOM: 67

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Home details

Lot Sq. Ft: 6,862
HOA Dues: $0/mo
Year built: 2024
Garage: 12 Car
Property Type:: Apartment

Status: Active
MLS#: SR24025427
City: Los Angeles
County: Los Angeles
Time on Site: 82 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 12
Total # of Buildings: 1
# of Electric Meters: 12
# of Gas Meters: 12
# of Water Meters: 1

Unit Breakdown 1

# of Units: 8
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $24,792

Unit Breakdown 2

# of Units: 4
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $11,000

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5%
Gross Rent Multiplier: 14.2
Gross Scheduled Income: $423,000
Net Operating Income: $300,758
Gross Operating Income: --
Vacancy Allowance: $12,690

Annual Expense Breakdown

Total Operating Expense: $110,040
Electric: $1,000
New Taxes: $70,000
Trash: $5,000
Insurance: $7,500
Maintenance: $6,000
Professional Management: $14,640
Water/Sewer: $6,000

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Property Details for 264 S Union Ave

Interior Features

Laundry Information

Has Laundry
Gas Dryer Hookup, Washer Hookup

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 12
# of Parking Spaces: 12
Has Parking
Parking Features: Assigned

Lot Information

Lot Features: 11-15 Units/Acre
Lot Size Source: Assessor
Common Interest: Community Apartment

Property Information

Common Walls: 1 Common Wall
Total # of Units: 12
Parcel Number: 5153010029
Year Built Source: Builder
Entry Level: 1
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: South of Beverly Blvd

Neighborhood Information

Community Features: Urban

View more facts & features

Local Los Angeles Agent

Sale History for 264 S Union Ave

Last sold on May 28th, 2020

February, 2024
Feb 5, 2024

Date

Active

CRMLS: SR24025427

$6,000,000

Price
May, 2020
May 28, 2020

Date

Sold (Public Records)

Public Records

--

Price
October, 2019
Oct 21, 2019

Date

Sold (Public Records)

Public Records

$1,197,500

Price
July, 2019
Jul 3, 2019

Date

Expired

CRMLS: P0-819001873

$1,198,000

Price
Apr 25, 2019

Date

Active

CRMLS: P0-819001873

$1,198,000

Price
Listing provided courtesy of CRMLS

Shovel ready 12 units Permits pulled and paid with spectacular Downtown, Hollywood sign and Observatory views. Westlake LAR3 Development site Delivered Approved RTI for 12 unit Density Bonus Apartment 11,471 building. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 4 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots. The project is being sold with RTI plans. The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent information.

Continue Reading
July, 2019
Jul 3, 2019

Date

Expired

CRMLS: P0-819000964

$1,148,000

Price
Apr 25, 2019

Date

Withdrawn

CRMLS: P0-819000964

$1,148,000

Price
Mar 6, 2019

Date

Active

CRMLS: P0-819000964

$1,148,000

Price
Listing provided courtesy of CRMLS

Shovel ready 12 units with spectacular Downtown, Hollywood sign and Observatory views. Westlake LAR3 Development site Delivered Approved RTI for 12 unit Density Bonus Apartment 11,471 building. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 4 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots. The project is being sold with RTI plans. The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent information. Seller willing to JV on the project.

Continue Reading
January, 2019
Jan 1, 2019

Date

Expired

CRMLS: P0-818003666

$1,198,000

Price
Sep 12, 2018

Date

Pending

CRMLS: P0-818003666

$1,198,000

Price
Jul 25, 2018

Date

Active

CRMLS: P0-818003666

$1,198,000

Price
Listing provided courtesy of CRMLS

FULLY APPROVED Westlake LAR3 Development site Delivered Approved RTI for 12 unit Density Bonus Apartment 11,471 building with spectacular downtown, Hollywood sign and observatory views. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 4 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots in a semi subterranean garage. Only one unit is very low income. The soils have been approved and plans will be delivered RTI. The project is being sold with RTI plans .The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent information.

Continue Reading
November, 2018
Nov 2, 2018

Date

Expired

CRMLS: P0-818003366

$1,198,000

Price
Jul 25, 2018

Date

Withdrawn

CRMLS: P0-818003366

$1,198,000

Price
Jul 10, 2018

Date

Price Change

CRMLS: P0-818003366

$1,198,000

Price
Jul 9, 2018

Date

Active

CRMLS: P0-818003366

$1,175,000

Price
Listing provided courtesy of CRMLS

Westlake LAR3 Development site Delivered Approved RTI for 12 unit Density Bonus Apartment 11,471 building with spectacular downtown, Hollywood sign and observatory views. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 4 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots in a semi subterranean garage. Only one unit is very low income. The soils have been approved and plans will be delivered RTI. The project is being sold with conditional RTI plans with the buyer being responsible for .The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent information.

Continue Reading
November, 2018
Nov 2, 2018

Date

Expired

CRMLS: P0-818003365

--

Price
Jul 9, 2018

Date

Withdrawn

CRMLS: P0-818003365

--

Price
Listing provided courtesy of CRMLS

Westlake LAR3 Development site Conditional Approved RTI for 12 unit Density Bonus Apartment 11,471 building with spectacular downtown, Hollywood sign and observatory views. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 4 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots in a semi subterranean garage. Only one unit is very low income. The soils have been approved and plans will be delivered with conditional RTI. The project is being sold with conditional RTI plans with the buyer being responsible for .The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent information.

Continue Reading
November, 2018
Nov 2, 2018

Date

Expired

CRMLS: P0-818000362

$1,175,000

Price
Feb 20, 2018

Date

Withdrawn

CRMLS: P0-818000362

$1,175,000

Price
Jan 25, 2018

Date

Active

CRMLS: P0-818000362

$1,175,000

Price
Listing provided courtesy of CRMLS

Westlake LAR3 Development site for 12 unit Density Bonus Apartment 11,471 building with spectacular downtown, Hollywood sign and observatory views. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 2 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots in a semi subterranean garage. Only one unit is very low income. The soils have been approved and plans have been submitted to city. The project is being sold with plans submitted with the buyer being responsible of getting the project to approval.The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent information

Continue Reading
November, 2018
Nov 2, 2018

Date

Expired

CRMLS: P0-818000025

$1,175,000

Price
Jan 25, 2018

Date

Withdrawn

CRMLS: P0-818000025

$1,175,000

Price
Jan 3, 2018

Date

Active

CRMLS: P0-818000025

$1,175,000

Price
Listing provided courtesy of CRMLS

Westlake LAR3 Development site for 12 unit Density Bonus Apartment 11,471 building with spectacular downtown, Hollywood sign and observatory views. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 2 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots in a semi subterranean garage. Only one unit is very low income. The soils have been approved and plans have been submitted to city. The project is being sold with plans submitted with the buyer being responsible of getting the project to approval.The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent information

Continue Reading
November, 2018
Nov 2, 2018

Date

Expired

CRMLS: P0-817002930

$1,199,000

Price
Jan 3, 2018

Date

Withdrawn

CRMLS: P0-817002930

$1,199,000

Price
Nov 29, 2017

Date

Active

CRMLS: P0-817002930

$1,199,000

Price
Listing provided courtesy of CRMLS

Westlake LAR3 Development site for 12 unit Density Bonus Apartment 11,471 building with spectacular downtown, Hollywood sign and observatory views. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 2 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots in a semi subterranean garage. Only one unit is very low income. The soils have been approved and plans have been submitted to city. The project is being sold with plans submitted with the buyer being responsible of getting the project to approval.The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent informationThe approval process should take another 4 months with subsequent fees. The initial subliminal costs have been paid. A large portion architecture, structural and civil work has paid as well.

Continue Reading
June, 2018
Jun 19, 2018

Date

Canceled

CRMLS: 18317958

$1,175,000

Price
Feb 27, 2018

Date

Active

CRMLS: 18317958

$1,175,000

Price
Listing provided courtesy of CRMLS

Westlake LAR3 Development site for 12 unit Density Bonus Apartment 11,471 building with spectacular downtown, Hollywood sign and observatory views. This is rare development opportunity in the rapidly developing Westlake area close to Downtown, Echo Park and Silverlake. The building has 8 2/1's and 2 1/1 units. Great rooftop deck to capture what will be incredible views.The building has 11 parking spots in a semi subterranean garage. Only one unit is very low income. The soils have been approved and plans have been submitted to city. The project is being sold with plans submitted with the buyer being responsible of getting the project to approval.The existing home has been demoed with final demo permit approval. We can share a drop box link with plans and other pertinent information

Continue Reading

Tax History for 264 S Union Ave

Assessed Value (2020): --

Year	Land Value	Improved Value	Assessed Value
2020	$1,197,500	--	--

Home Value Compared to the Market

This property vs the competition

264 S Union Ave is listed 385.44% higher than the median list price for the city of Los Angeles which has a median list price of $1,236,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $508.47 per/sqft which puts the price per square foot 34.22% lower than the median price per square foot for the city of Los Angeles.

About 264 S Union Ave

Detailed summary of property

264 S Union Ave is a apartment located in Los Angeles, CA 90026 and is currently for sale. This apartment offers 20 bedrooms, 12 bathrooms, roughly 11,800 living square feet, and sits on an approximately 6,862 square foot lot. 264 S Union Ave was first listed on ArdentRealEstateGroup.com on February 5, 2024. The homeowner is currently asking $6,000,000. The median priced home in Los Angeles is $1,236,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 385.44% higher than the median priced home. Local competing homes currently for sale include 1002 N Mariposa Ave, 722 S Manhattan Pl and 3653 Halldale Ave. While the average home in Los Angeles, CA is selling in 96 days, 264 S Union Ave has a days on market of 67 days. There are currently 3487 homes for sale in the Los Angeles real estate market and 2373 of them are single family homes while 1015 of them are condos and 93 are townhomes. For more information on this home for sale at 264 S Union Ave Los Angeles, CA 90026 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 264 S Union Ave

Public county record property details

Beds: --
Baths: --
Year built: --
Sq. Ft.: --
Lot Size: 7,009
Stories: --

Type: Single Family Residential
Pool: No
Spa: No
County: Los Angeles
Lot#: 20
APN: 5153-010-029

The source for these homes facts are from public records.

90026 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,300,000

Median List Price/Sq.Ft.

$808

Median Sold Price

$940,000

Median Sold Price/Sq.Ft.

$850

Total Inventory

Median Sale to List Price %

100.11%

Avg Days on Market

Loan Type

Conventional (9.09%), FHA (0%), VA (0%), Cash (0%), Other (9.09%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.