513 S Union Ave, Los Angeles, CA 90017

Overview:

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• Address: 513 S Union Ave, Los Angeles, CA
• Property Type: 12-Unit Apartment Building
• Year Built: 1922
• Zoning Designation: LAR4

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Investment Highlights:

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513 S Union Ave is a compelling investment opportunity for apartment building owners and real estate investors. With a total of 12 residential units, this property combines historical charm with modern potential, making it an attractive choice for those looking to expand their portfolio in the vibrant Los Angeles market.

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• Prime Location:
  Located in the heart of Westlake, this property is strategically positioned in one of the most active development areas in Greater Los Angeles. Westlake is known for its cultural diversity and is experiencing significant revitalization, resulting in increased demand for housing. The building's proximity to major urban centers ensures that residents have easy access to various amenities and job opportunities.
• Growth Potential:
  The property boasts an LAR4 zoning designation, which allows for various residential developments and provides flexibility for future expansion. Investors can explore opportunities to enhance the property's value through redevelopment or renovations. This zoning flexibility is crucial in a rapidly changing market, making it easier to adapt to future demands and maximize rental income.
• Reliable Financing Options:
  Financing is a key consideration for any real estate investment. 513 S Union Ave comes with a Freddie Mac loan featuring a 63% Loan-to-Value (LTV) ratio. This advantageous financing structure provides stability, allowing investors to leverage their investment effectively. Additionally, the nominal assumption fee of just 1% makes it more cost-effective for new owners to take over the financing arrangement, thus minimizing upfront costs.

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Accessibility:

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Accessibility is a significant factor influencing property value, and 513 S Union Ave excels in this aspect. The property is conveniently located near major highways, facilitating travel throughout the Greater Los Angeles area.

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• Major Highways Nearby:
  • Interstate 10 (I-10): A critical corridor that connects Los Angeles to the Inland Empire and surrounding regions.
  • Interstate 110 (I-110): Offers quick access to downtown and other key neighborhoods, making commuting easier for residents.
  • US Route 101 (US-101): Links the property to vital commercial and residential areas, enhancing connectivity.

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This strategic positioning not only enhances the quality of life for residents but also makes the property an attractive option for investors looking to capitalize on Los Angeles' ever-growing urban landscape.

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Neighborhood Overview:

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Westlake is a vibrant community characterized by its diverse culture and thriving economy. The area is home to a rich mix of dining, shopping, and entertainment options, making it a desirable place to live.

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• Cultural Attractions:
  Residents can enjoy a variety of cultural experiences, from local restaurants to art galleries and community events. This cultural richness adds to the area's appeal, attracting a steady stream of renters.
• Employment Opportunities:
  The proximity to major job centers, including downtown Los Angeles and tech hubs, ensures a consistent demand for rental units. This high demand creates a favorable environment for property owners and investors.

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513 S Union Ave represents an exceptional investment opportunity in the heart of Los Angeles. With its prime location in the thriving Westlake neighborhood, favorable zoning for expansion, reliable financing options, and excellent accessibility, this property is poised for long-term growth and stability.

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Whether you are an experienced investor looking to diversify your portfolio or a new entrant to the Los Angeles real estate market, this property offers the perfect blend of potential and performance.

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For further details or to schedule a viewing, please contact:

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Taylor Avakian
Founder, The Group CRE
First Vice President, Lyon Stahl

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Don’t miss your chance to invest in a vibrant community with limitless potential!