412 Union Dr, Los Angeles, CA 90017
412 Union Dr, Los Angeles, CA 90017
412 Union Dr, Los Angeles, CA 90017
412 Union Dr, Los Angeles, CA 90017
412 Union Dr, Los Angeles, CA 90017
412 Union Dr, Los Angeles, CA 90017
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Shantrece Thomas

Shantrece Thomas

+1(904) 760-6560
$ 2,100,000
Est. payment | /mo

18 Beds

18 Baths

10,950 SqFt

Save
$ 2,100,000
Est. payment | /mo
Save

18 Beds

18 Baths

10,950 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 10,950 sqft

Price per Sqft $191

MLS Listing ID 26996879

Bedrooms 18

Year Built 1925

Lot Size 0.378 Acres

Acres 0.3776

Property Sub-Type Multi-Family

Property Description

FULLY PARKED 18 unit multifamily investment in City West, minutes from the Downtown Los Angeles core, with 22 on site parking spaces. The offering consists of two adjacent two story walk up buildings (412 and 416 Union Dr.) on a single R4 zoned parcel of approximately 0.38 acres, built in 1925 and totaling approximately 10,950 gross square feet. On site surface parking runs along the eastern boundary with a striped lot spanning the full southern edge of the site. Competing vintage buildings in the submarket offer street parking only or no parking at all, so a fully parked property leases faster and supports a rent premium on every turn. LARGE UNITS: the building area averages roughly 608 square feet per unit, well above the 450 to 500 square foot studios typical of competing vintage product nearby. The mix is 16 studios and 2 one bedroom units, all with one bath, with spacious floor plans that include separate full kitchens, generous closets, original hardwood flooring, ceiling fans, and wall heaters. A number of units have already received updated flooring, cabinetry, countertops, and bathroom fixtures, establishing the renovation standard a new owner can carry through the balance of the property. SIGNIFICANT UPSIDE: current rents average well below market, and three units will be delivered vacant at close of escrow for immediate renovation and releasing. Gross potential rent grows from $219,695 to a projected $366,000 on a fully stabilized basis, lifting net operating income from $130,358 to $218,772, the cap rate from 6.21% to 10.42%, and the GRM from 9.56 to 5.74. Offered at $116,667 per unit and $191.78 per square foot, approximately 19% below the average price per unit of the two most recent comparable sales in the 90017 zip code. Close to the Financial District, the Civic Center, the 110 and 101 freeways, and Metro rail and bus service. Buyer to independently verify all information.

Location

State CA

County Los Angeles

Area Downtown L.A.

Zoning LAR4

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Ceiling Fan

Flooring Hardwood

Equipment Ceiling Fan

Laundry Community

Exterior

Parking Features Uncovered, Parking Space

Garage Spaces 22.0

Building

Story 2

Level or Stories Two

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 ©2026 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 Fred Leeds Asset Group Inc.

NEARBY SCHOOLS & PROPERTIES

Shantrece Thomas

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(904) 760-6560

shantrecethomas@gmail.com

200 W FORSYTH STREET SUITE 1605, Jacksonville, Florida 32202, United States

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412 Union Dr