125 Union Place

Los Angeles, CA 90026

$1,565,000
Last Sold Price
15
Beds
9
Baths
5,489 Sq. Ft.
$285 / Sq. Ft.
5,489
Sq. Ft.
$285
per Sq. Ft.

Description

*** 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...*** 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.

Listing Agent

  1. Max Berger

    Max Berger

    Listing Agent

    Compass

    DRE #02054048

    max.berger@compass.com

    P: (818)-321-4972

Property Details for 125 Union Place

Zoning
LAR3
Cross Streets
Beverly Blvd. & Union Pl.
Parcel Number
5153012009
Total Units
9.0
Living Area
5489
Source Living Area
Other
Area
Downtown L.A. (C42)
Vacancy Rate
4 Units
LISTING UPDATED: 11/06/2024 11:55 AM

Property Details for 125 Union Place

StatusSold
MLS #24-392807
Days on Market97
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.17 AC / 7,434 SF
CountyLos Angeles County

Building Information for 125 Union Place

Stories2Residences-Year Built1953Building Size-Lot Size0.17 AC / 7,434 SF

Property Information for 125 Union Place

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
  • Security Features: Gated
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $193,026
  • Net Operating Income: $124,178.00
  • Gross Income: $198,996
  • Cap Rate: 6.71%
  • Gross Rent Multiplier: $9.30
  • Financial Info as Of: 07/24/2024
  • Total Annual Expense: 68848
Land / Lot Info
Land / Lot Info
  • Alley: Yes
  • Lot Size Square Feet: 7434
Parking Details
Parking Details
  • Parking Garage: Side By Side, Uncovered
  • Total Parking: 0
  • Parking Features: Side by Side, Uncovered
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
  • Common Walls: Attached
  • Laundry: Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-16-2024
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,259.00
  • Unit Actual Rent: $13,553.00
  • Unit Projected Rent: $15,570.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $738.00
  • Unit Actual Rent: $2,950.00
  • Unit Projected Rent: $6,585.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107

Property History for 125 Union Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 125 Union Place

Taxable ValueLand$1,227,069Additions$446,666Total$1,673,735
Tax Record2024$21,186 ($1,766 / month)
Home Facts
Total Finished SqFt4,870 SqFtAbove Grade Finished SqFt4,870 SqFtLot Size7,434 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningLAR3CountyLOS ANGELESAPN5153-012-009

Schools near 125 Union Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Union Avenue Elementary School
PublicK to 5

Sal Castro Middle School
Public6 to 8

Miguel Contreras Learning Complex School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Max Berger, DRE #02054048

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.