125 Union Place

Los Angeles , CA 90026

MLS#: 24392807

$1,850,000

Status: Closed
Listing number: 24392807
Listing provided by: Compass
Listing agent phone: None
Last update: 8 months ago
On site: 1 year, 2 months ago
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Property

Beds

15

Full Baths

None

1/2 Baths

None

Year Built

1953

Sq.Footage

5,489

*** 2nd $100,000 price reduction *** 125 Union Place is a 9-unit value-add property located one mile south of Echo Park Lake. Located just south of Beverly Blvd, this property is near Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. Built in 1953, 125 Union consists of (6) 2-bdrm. units and (3) 1-bdrm. units. One of the 2-bdrm. units is an ADU that was built in 2022, and features wood-laminate flooring, stainless-steel appliances, and quartz countertops. 125 Union is being offered at a 6.71% CAP and 9.30 GRM on current rents, $205,556 per unit, and $337 per foot. The property presents approx. 34% rental upside with (4) VACANT 2-bdrm. units. At projected market rents, it will stabilize at a 10.27% CAP and 6.93 GRM. The property amenities include a laundry room. 125 Union is a part of a 5-property South LA portfolio, for more information please contact LA1.

Features & Amenities

Interior

  • Total Bedrooms

    15

  • Bathrooms

    N/A

Exterior

  • Garage

    No

  • Parking

    Side By Side

  • Pool

    No

  • View

    None

Area & Lot

  • Lot Size(acres)

    0.1707

  • Property Type

    Residential Income

Price

  • Sales Price

    $1,850,000

  • Sq. Footage

    5, 489

  • Price/SqFt

    $337

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

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Los Angeles

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Listing Courtesy of Max Berger , Compass

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*** 2nd $100,000 price reduction *** 125 Union Place is a 9-unit value-add property located one mile south of Echo Park Lake. Located just south of Beverly Blvd, this property is near Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. Built in 1953, 125 Union consists of (6) 2-bdrm. units and (3) 1-bdrm. units. One of the 2-bdrm. units is an ADU that was built in 2022, and features wood-laminate flooring, stainless-steel appliances, and quartz countertops. 125 Union is being offered at a 6.71% CAP and 9.30 GRM on current rents, $205,556 per unit, and $337 per foot. The property presents approx. 34% rental upside with (4) VACANT 2-bdrm. units. At projected market rents, it will stabilize at a 10.27% CAP and 6.93 GRM. The property amenities include a laundry room. 125 Union is a part of a 5-property South LA portfolio, for more information please contact LA1.

125 Union Place

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