264 S Union Avenue, Los Angeles, CA 90026 (MLS # SR24025427)
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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.
| DAYS ON MARKET | 104 | LAST UPDATED | 2/5/2024 |
|---|---|---|---|
| YEAR BUILT | 2024 | COMMUNITY | Silver Lake - Echo Park |
| GARAGE SPACES | 12.0 | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | Silver Lake - Echo Park |
|---|---|
| BUYER'S BROKERAGE COMPENSATION | 1.500 % |
| GARAGE | Assigned, Yes |
| LOT | 6862 sq ft |
| LOT DESCRIPTION | 11-15 Units/Acre |
| PARKING | Assigned |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| WATER | Public |
| ZONING | LAR3 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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