Sold – 526 S Union Ave

Overview

Type
Sqft.
12,960.00
sqft.
Price Per Sqft.
$
158.18
CAP Rate
6.94
%
Lot Size
6,229.00
sqft.

Description

Rosano Partners is pleased to present the opportunity to acquire 30-units located in the Westlake submarket of Los Angeles. Built in 1922, this three-story wood frame and stucco building is comprised of 30
singles. The building has been completely renovated with new paint, security, and a major restoration to over 43% of the units. Additionally, the building is separately metered for electricity. This identifies a unique opportunity for an investor to acquire a stabilized asset with more than 81% of the units at market rent, and very low expenses due to up to date utilities.
The subject property is situated in a prime location that is less than half a mile from LA Live, two blocks from MacArthur Park and one block from Home Depot and Food For Less. This neighborhood has high foot traffic and high demand due to local transportation, highways, entertainment, and employment. As improvements keep coming to Downtown and surrounding sub-markets, Westlake is poised for substantial growth and opportunity.


Managing Agent

Edward G. Caballero

Senior Associate, Multi-Family Investment Sales
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