514 Union Dr

Los Angeles CA 90017

25720 sq. ft.

8406 sq. ft.

Other

Last sold for $4,700,000

Neema Ahadian, last sold this property on 27 August 2025 after 152 days on market.

Overview

We are pleased to present 514 Union Dr, a 47-unit multifamily investment opportunity located in the desirable Westlake neighborhood of Los Angeles. Situated just north of 6th Street and only half a mile from Good Samaritan Hospital, the property boasts a central location that offers easy access to the region's most sought-after amenities. The building features a well-balanced unit mix of 39 singles and 8 one-bedroom apartments, offering strong rental demand in a neighborhood known for its accessibility and proximity to major employers and transit options. At the asking price, 514 Union Dr presents an attractive investment at a 7.40% CAP rate and a 7.06 GRM, based on current income, with substantial upside potential. A 27% rental increase is achievable as units turn through interior renovations, creating an opportunity for increased revenue. In addition to the immediate upside potential, there may also be further value-add opportunities, such as the possible addition of an Accessory Dwelling Unit (ADU), subject to buyer verification and applicable zoning laws. The property is separately metered for electricity and includes an onsite laundry room with four washers and dryers leased through Wash, enhancing convenience for tenants and generating additional revenue streams. With a Walk Score of 93, the property benefits from its prime location within walking distance to key transit lines, including the Metro A-E Rail Lines and Metro Local Lines along 6th Street. The surrounding Westlake neighborhood provides a vibrant urban environment, offering quick commutes to Downtown Los Angeles, Hollywood, and Koreatown. Additionally, tenants will enjoy easy access to recreational destinations such as MacArthur Park, Echo Park, Dodger Stadium, and cultural landmarks like The Broad Museum. This location is ideal for tenants seeking a centrally located, well-connected living experience, and presents investors with a rare opportunity in one of Los Angeles' most dynamic neighborhoods.

Features

8 bedrooms

47 bathrooms

25720 sq. ft. floor area

8406 sq. ft. lot size

Other

Estimated Value

We need at least 3 similar 8 bedroom other properties sold in Los Angeles over the last 12 months.

Property history for 514 Union Dr

2025

Sold

$4,700,000

27 Aug 2025 by Neema Ahadian, of Marcus & Millichap

2009

Sold

$834,268

15 May 2009

Happy sellers in Los Angeles

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