1029 S Union Ave | Los Angeles, CA 90015
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- LoopNet Team
1029 S Union Ave
Los Angeles, CA 90015
A Renovated 31-Unit with Remaining Upside · Multifamily Property For Sale
·
31 Units
INVESTMENT HIGHLIGHTS
- An investor can capture 53% rental upside on non-renovated units and additional upside on upgraded units not yet leased at market rents
- The 2028 Summer Games are expected to boost LA real estate through infrastructure upgrades and major venue improvements like the LA Coliseum
- A unique opportunity for investors seeking a strategic entry or expansion in LA, where the average deal size is 13 units over the past five years
- Located in close proximity to the vibrant restaurants, cafes, bars, theaters, and employment opportunities in Downtown Los Angeles and Koreatown
- High-profile downtown office sales in 2024 signal renewed confidence and new owners leasing at reset rates—drawing employers back to the CBD
- The government required seismic retrofit work was completed by ownership
PROPERTY FACTS
| No. Units | 31 | Building Size | 21,988 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 1.97/1,000 SF |
| Lot Size | 0.37 AC | ||
| Zoning | LAR4 | ||
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 21,988 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.97/1,000 SF |
| Zoning | LAR4 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 22 | - | 377 |
| 1+1 | 9 | - | 604 |
PROPERTY TAXES
| Parcel Number | 5137-016-025 | Improvements Assessment | $1,137,373 |
| Land Assessment | $3,878,581 | Total Assessment | $5,015,954 |
PROPERTY TAXES
Parcel Number
5137-016-025
Land Assessment
$3,878,581
Improvements Assessment
$1,137,373
Total Assessment
$5,015,954
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