412 Union Dr , Los Angeles, CA 90017
$2,100,000
Est. Payment: $11,036.40/mo
1 Bed
2 Bath
10950 Sqft
0.38 Acres
Status: active | Days on site: 8
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CLW-X80462 - CLW-C141617
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House 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.

Highlights

Listed by Chandler Rockwell , 310-405-7632 Fred Leeds Asset Group Inc. , 310-826-2466. CRMLS/Multi-Regional MLS mls logo

Property Type

Multi-Family

Lot/Acreage
0.38

Year Built

1925

County

Los Angeles

Area

C42 - Downtown L.A.

Listing ID

26996879

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:1
  • ▪ Bathrooms:2
Floor:Wood
Other:
  • ▪ Additional:Ceiling Fan(s)

Exterior Features

Lot:No Land Lease
Garage Capacity:22
Zoning:LAR4
Others:
  • ▪ Additional:2+ Total Units
Parking Features:One Space,Uncovered
Principal Interest
$11,036
Taxes
$1,339

Home Price

$2,100,000

Loan Details

30 yrs
6.875%

Down Payment

20%
$420,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$11,036.40

Principal

Taxes

Principal Taxes HOA Total
Monthly $11,036.40 $1,338.75 $0.00 $12,375.15
Yearly $132,436.85 $16,065.00 $0.00 $148,501.85
Total $3,973,105.47 $481,950.00 $0.00 $4,455,055.47

Today's Rates

30 Year

6.88%

20 Year

6.86%

15 Year

6.33%

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Market insight data is pulled from the same city as the listing being viewed (Los Angeles, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-11-06T23:30:37.000Z

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