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313 N Union Ave, Los Angeles, CA 90026
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313 N Union Ave Los Angeles, CA 90026

$1,335,000 Sold Price as of 01/11/2023
  • 8 Beds
  • 6 Baths
  • 4,026 Sq.Ft.
Sold
$1,335,000 Sold Price as of 01/11/2023 Refinance Your Mortgage
Map preview of 313 N Union Ave, Los Angeles, CA 90026

Property Overview: 313 N Union Ave Los Angeles, CA has 8 bedrooms, 6 bathrooms, 4,026 living square feet and 6,906 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Julio Ruiz | BRE #01911261 | Global Platinum Properties, Inc.
Last checked: 11 minutes ago | Last updated: January 12th, 2023 | Source CRMLS | DOM: 42

Home details

Lot Sq. Ft
6,906
HOA Dues
$0/mo
Year built
1961
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22217433
City
Los Angeles
County
Los Angeles
Time on Site
557 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $840
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $1,286
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,750
  • Total Rent: $1,560
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $2,250
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $1,285
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,750
  • Total Rent: $1,365
  • Pro Forma/Market Rent: $2,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.7%
  • Gross Rent Multiplier: 14.5
  • Gross Scheduled Income: --
  • Net Operating Income: $69,768
  • Gross Operating Income: $103,032
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 313 N Union Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Room Information
  • Flooring: Laminate
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Unassigned, Uncovered, Gated
Property Information
  • Total # of Units: 6
  • Parcel Number: 5159004007
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: North of Beverly, South of Temple.
View more facts & features

Local Los Angeles Agent

Sale History for 313 N Union Ave

Last sold for $1,335,000 on January 11th, 2023

  • January, 2023

  • Jan 11, 2023

    Date

    Sold

    CRMLS: 22217433

    $1,335,000

    Price

  • Nov 10, 2022

    Date

    Active

    CRMLS: 22217433

    $1,495,000

    Price

  • November, 2022

  • Nov 1, 2022

    Date

    Canceled

    CRMLS: 22203719

    $1,450,000

    Price

  • Sep 27, 2022

    Date

    Active

    CRMLS: 22203719

    $1,495,000

    Price

  • Listing provided courtesy of CRMLS

    Price Reduced! Amazing Value-Add 6 units in the trendy Echo Park area priced at only 241k/door with great current cash flow plus 70% upside in rents. Incredible Current Cap Rate of 4.2% and 15.7 GRM with an upside to 8.6% cap rate and 9.3 GRM on the proforma. 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.

  • November, 2021

  • Nov 12, 2021

    Date

    Pending

    CRMLS: SR21239145

    $1,400,000

    Price

  • Nov 5, 2021

    Date

    Active

    CRMLS: SR21239145

    $1,400,000

    Price

  • Listing provided courtesy of CRMLS

    This 6 unit apartment is located close to the LA Metro, Downton LA and Echo Park Lake. Two 2+1 units and four 1+1 units with off street parking for six cars. Also for sale are 309 N Union and 317 N Union both lots are 6900 square feet and zoned LARD2. Rare opportunity to purchase three contiguous lots in this up and coming Echo Park neighborhood.

  • August, 2020

  • Aug 17, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 313 N Union Ave

Assessed Value (2020): $113,378
Year Land Value Improved Value Assessed Value
2020 $30,680 $82,698 $113,378

Home Value Compared to the Market

This property vs the competition

313 N Union Ave sold on January 11, 2023 for 25.63% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $371.34 per/sqft which puts the price per square foot 50.82% lower than the current median sale per square foot for the city of Los Angeles.

About 313 N Union Ave

Detailed summary of property

313 N Union Ave is a multi family that recently sold in Los Angeles, CA 90026. This multi family property offered 8 bedrooms, 6 bathrooms, roughly 4,026 living square feet, and sits on an approximately 6,906 square foot lot. 313 N Union Ave was first listed on ArdentRealEstateGroup.com on November 11, 2022. The homeowner sold the property for $1,335,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 25.63% higher than the current median priced home. Local homes that are currently for sale include 817 Centennial St, 342 N Dillon St and 833 N Vendome St. While the average home in Los Angeles, CA is selling in 93 days, 313 N Union Ave has a days on market of 42 days. There are currently 3718 homes for sale in the Los Angeles real estate market and 2495 of them are single family homes while 1123 of them are condos and 94 are townhomes. For more information on this home for sale at 313 N 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 313 N Union Ave

Public county record property details
Beds
8
Baths
6
Year built
1961
Sq. Ft.
4,026
Lot Size
6,906
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
5159-004-007

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.
$766
Median Sold Price
$1,450,000
Median Sold Price/Sq.Ft.
$817
Total Inventory
73
Median Sale to List Price %
105.92%
Avg Days on Market
13
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (15.38%), Other (0%)

Thinking of Selling?

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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.

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