275 South Union Avenue

Los Angeles, CA 90026

$1,749,000
Price
4
Beds
4
Baths
3,935 Sq. Ft.
$444 / Sq. Ft.
3,935
Sq. Ft.
$444
per Sq. Ft.

Description

This exceptional 3-unit property in the heart of Downtown Los Angeles within the Historic Filipinotown, adjacent to the trendy neighborhoods of Silver Lake and Echo Park, offers an outstanding investment opportunity with consistent positive cash flow. The property features two 5-bedroom units and one 3-bedroom unit, providing ample space for tenants in a highly desirable area near schools, shops, and transportation. Additionally, there is a storage space with the potential for conversion into an...This exceptional 3-unit property in the heart of Downtown Los Angeles within the Historic Filipinotown, adjacent to the trendy neighborhoods of Silver Lake and Echo Park, offers an outstanding investment opportunity with consistent positive cash flow. The property features two 5-bedroom units and one 3-bedroom unit, providing ample space for tenants in a highly desirable area near schools, shops, and transportation. Additionally, there is a storage space with the potential for conversion into an ADU, subject to buyer verification. With tenants responsible for all utilities, the property boasts a 5.88% cap rate and a 12.04 GRM, generating a positive cash flow of $4,800+ per month. This is an ideal opportunity for investors seeking a high-performing asset in a prime urban location. Contact the broker for further details, as cash flow (net income and investment returns) may vary based on interest rates and down payment. Do not disturb occupants! Property Tour only with accepted offer subject to walk through!
  1. Listed by Fred Nabati • DRE #01276914 • Brokerage DRE #01276914 • Trimax Realty, Inc.
  2. Listed by Nathan Gilardi • DRE #02179887 • Brokerage DRE #01276914 • Trimax Realty, Inc.

Property Details for 275 South Union Avenue

Water Front
None
Zoning
LAR3
Style
Unknown
Cross Streets
S. UNION AVE / W. 3RD ST.
Parcel Number
5153002027
Total Units
3.0
Living Area
3935
Source Living Area
Vendor Enhanced
LISTING UPDATED: 09/30/2024 11:47 AM

Property Details for 275 South Union Avenue

StatusActive
MLS #24-428379
Days on Market34
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1905
Lot Size0.16 AC / 6,829 SF
CountyLos Angeles County

Building Information for 275 South Union Avenue

Stories2Residences-Year Built1905Building Size-Lot Size0.16 AC / 6,829 SF

Property Information for 275 South Union Avenue

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: APARTMENT
  • View: No
  • View Description: None
  • View: None
  • Security Features: Gated, Carbon Monoxide Detector(s), Window Bars
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
  • ADA Compliance: No
  • Water Heater Features: Water Heater Unit, Other
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, New, Cash To New Loan
  • Disclosures: As Is, Property Report
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $148,704
  • Net Operating Income: $105,163.00
  • Gross Income: $148,704
  • Cap Rate: 5.88%
  • Gross Rent Multiplier: $12.04
  • Actual Annual Gross Rent: $148,704.00
  • Actual Gross Annual Income: $148,704
  • Actual Rent Total: $148,704.00
  • Financial Info as Of: 08/01/2024
  • Vacancy Allow Dollar: $4,461.00
  • Vacancy Allow Percent: 3.00%
  • Lease Per Month Year: See Remarks
  • Owner Pays: Gardener
  • Total Annual Expense: 45541
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.1568
  • Lot Size Square Feet: 6829
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: One
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Other
  • Common Walls: Attached
  • Laundry: None
Exterior Features
Exterior Features
  • Tennis: No
  • Tennis Court: None
  • Roof: Composition, Shingle
  • Sprinklers: None
  • Patio Features: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-27-2024
  • Listing Terms: Cash, Cash To New Loan, Take Property As Is
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Electricity, Gas, Water, Trash Collection
Unit Details
Unit 1 Information
  • Unit Beds: 5
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $5,200.00
  • Unit Actual Rent: $5,200.00
  • Unit Projected Rent: $5,408.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,692.00
  • Unit Actual Rent: $3,692.00
  • Unit Projected Rent: $3,840.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 5
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $3,500.00
  • Unit Projected Rent: $3,640.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $377,400.00
  • Assessed Improvement Percent: 34.91
  • Assessed Land Value: $703,800.00
  • Assessed Land Percent: 65.09
  • Assessed Total Value: $1,081,200.00

Property History for 275 South Union Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 275 South Union Avenue

Taxable ValueLand$717,876Additions$384,948Total$1,102,824
Tax Record2023$13,602 ($1,133 / month)
Home Facts
Total Finished SqFt3,935 SqFtAbove Grade Finished SqFt3,935 SqFtLot Size6,827 SqFtStyleQuadraplexYear Built1905ZoningLAR3CountyLOS ANGELESAPN5153-002-027

Schools near 275 South Union Avenue

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

Academic Leadership Community 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.

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275 South Union Avenue is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on August 27, 2024 by Trimax Realty, Inc., it's currently listed at $1,749,000. It has been on the market for a total of 34 days and was last sold on December 18, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include Union Avenue Elementary School, Sal Castro Middle School and Contreras Learning Center-School Of Social Justice. 275 South Union Avenue is a 4-bed, 4-bath, 3,935 sqft multi-family home built in 1905.

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 Trimax Realty, Inc., Fred Nabati, DRE #01276914; Trimax Realty, Inc., Nathan Gilardi, DRE #02179887

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.