412 Union Drive, Los Angeles, California image 1
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412 Union Drive

Los Angeles, CA 90017
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$2,100,000 $8,853/Mo
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Bed 18

Bed

Bath 18

Bath

SqFt10,950

Sqft

SqFt16,447

Sqft(Lot)

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 produc t 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.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,100,000

AD Id : 91680403

MLS Id : 26996879

Beds : 18

Lot Size : 16,447 Sq. Ft

Living Area Size : 10,950 Sq. Ft

Year Built : 1925

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 18

    Bathroom Information

    Total Baths: 18

    Flooring Information

    Wood

  • Interior Features

    CeilingFans
    Laundry Features: CommonArea

  • Heating & Cooling

    Has Heating: Yes Heating: WallFurnace

  • Building Information

    Year Built: 1925
    Building Area Total: 10950
    Stories: 2
    Private Pool: No

  • Lot Information

    Main Square Feet: 16447 Lot Size Acres: 0.3776 Lot Size Square Feet: 16,447

  • Listing Price Information

    Listing Price: $2100000

  • Tax Information

    Parcel Number: 5153006005

  • Location Information

    Direction: Union Dr just south of W 4th St, between W 4th St and W 6th St, at Loma Dr. West of the 110 Freeway in City West.
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
316 Columbia Avenue, Los Angeles, CA, 90017 $2,195,000 11 8 4,444 7,086 Sq. Ft

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The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 10/12/2026 @ 15:31

MLS: 26996879 LISTED BY: Chandler Rockwell, Fred Leeds Asset Group Inc. 310-826-2466 SOURCE: CRMLS

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