CA > Los Angeles
Los Angeles, CA 90017,514 Union Dr
Los Angeles, CA 90017,514 Union Dr
Los Angeles, CA 90017,514 Union Dr
8
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$4,500,000
Est. payment /mo
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8 Beds
47 Baths
25,720 SqFt
Active

514 Union Dr Los Angeles, CA 90017

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Keith Hill

Keith Hill

+1(725) 910-7805

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 25,720 sqft

Price per Sqft $174

MLS Listing ID 25517347

Bedrooms 8

Year Built 1926

Lot Size 8,406 Sqft

Acres 0.193

Property Sub-Type Multi-Family

Property Description

We are pleased to present 514 Union Dr, a 47-unit multifamily investment opportunity located in the desirable Westlake neighborhood of Los Angeles. Situated just north of 6th Street and only half a mile from Good Samaritan Hospital, the property boasts a central location that offers easy access to the region's most sought-after amenities. The building features a well-balanced unit mix of 39 singles and 8 one-bedroom apartments, offering strong rental demand in a neighborhood known for its accessibility and proximity to major employers and transit options. At the asking price, 514 Union Dr presents an attractive investment at a 7.40% CAP rate and a 7.06 GRM, based on current income, with substantial upside potential. A 27% rental increase is achievable as units turn through interior renovations, creating an opportunity for increased revenue. In addition to the immediate upside potential, there may also be further value-add opportunities, such as the possible addition of an Accessory Dwelling Unit (ADU), subject to buyer verification and applicable zoning laws. The property is separately metered for electricity and includes an onsite laundry room with four washers and dryers leased through Wash, enhancing convenience for tenants and generating additional revenue streams. With a Walk Score of 93, the property benefits from its prime location within walking distance to key transit lines, including the Metro A-E Rail Lines and Metro Local Lines along 6th Street. The surrounding Westlake neighborhood provides a vibrant urban environment, offering quick commutes to Downtown Los Angeles, Hollywood, and Koreatown. Additionally, tenants will enjoy easy access to recreational destinations such as MacArthur Park, Echo Park, Dodger Stadium, and cultural landmarks like The Broad Museum. This location is ideal for tenants seeking a centrally located, well-connected living experience, and presents investors with a rare opportunity in one of Los Angeles' most dynamic neighborhoods.

Location

State CA

County Los Angeles

Area Downtown L.A.

Zoning LAR4

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Parking Features None

Building

Story 4

Level or Stories Three Or More

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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agent

Keith Hill

Agent | RE.181555

+1(725) 910-7805

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514 Union Dr