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The Carlton Apartments | $99K/Unit | 7.81 GRM 526 Union Dr

51 Unit Block of Flats £3,986,583 (£78,168/Unit) 6.15% Net Initial Yield Los Angeles, CA 90017

Investment Highlights

  • 7.81 GRM on Current Income With Massive Upside
  • 6.15% Current Cap Rate & 10.27% on Market Rents
  • Only $99k Per Unit and $159 Per Square Foot
  • Stunning City Views from Select Units

Executive Summary

526 S Union Dr (The Carlton Apartments) is a 51-unit 1920’s built apartment building situated in the Westlake neighborhood of Los Angeles. The subject property is in close proximity to Downtown Los Angeles, Koreatown, and Hollywood. The Carlton Apartments offers 45 studio apartments each measuring approximately 450 square feet and 6 one-bedroom apartments measuring approximately 600 square feet. The average unit size is approximately 468 square feet and is individually metered for both electricity and gas. The property is a 5-story reinforced brick structure serviced by one elevator, two staircase and internal hallways and units are individually metered for electricity and gas.

Attachments

526 S Union Dr, Los Angeles_OM

Financial Summary (Pro forma - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £3,986,583 Property Subtype Apartment
Price Per Unit £78,168 Apartment Style Low Rise
Sale Type Investment Building Class C
Net Initial Yield 6.15% Building Size 32,001 SF
Gross Rent Multiplier 7.81 Number of Floors 5
No. Units 51 Year Built 1926
Property Type Residential
Price £3,986,583
Price Per Unit £78,168
Sale Type Investment
Net Initial Yield 6.15%
Gross Rent Multiplier 7.81
No. Units 51
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Building Size 32,001 SF
Number of Floors 5
Year Built 1926

Unit Amenities

  • Heating
  • Kitchen
  • Oven
  • Range

Site Amenities

  • 24 Hour Access

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 45 £1,115 450
1+1 6 £1,291 600

Links

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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 5153-006-016 Total Assessment £1,201,233
Land Assessment £226,643 Annual Taxes -£1 (£0.00/sf)
Improvements Assessment £974,590 Tax Year 2024

PROPERTY TAXES

Parcel Number
5153-006-016
Land Assessment
£226,643
Improvements Assessment
£974,590
Total Assessment
£1,201,233
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024

zoning

Zoning Code R5-2 (Multiple Dwelling Zone)
R5-2 (Multiple Dwelling Zone)
(310) 621-8221

Contacts

  • Listing ID: 32556569

  • Date on Market: 23/07/2024

  • Last Updated:

  • Address: 526 Union Dr, Los Angeles, CA 90017

The Koreatown Residential Property at 526 Union Dr, Los Angeles, CA 90017 is currently available. Contact Northmarq for more information.

Nearby Listings

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526 Union Dr, Los Angeles, CA for sale Primary Photo- Image 1 of 17
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526 Union Dr, Los Angeles, CA for sale Building Photo- Image 2 of 17
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526 Union Dr, Los Angeles, CA for sale Building Photo- Image 3 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 4 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 5 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 6 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 7 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 8 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 9 of 17
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526 Union Dr, Los Angeles, CA for sale Building Photo- Image 10 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 11 of 17
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526 Union Dr, Los Angeles, CA for sale Building Photo- Image 12 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 13 of 17
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526 Union Dr, Los Angeles, CA for sale Interior Photo- Image 14 of 17
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526 Union Dr, Los Angeles, CA for sale Building Photo- Image 15 of 17
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526 Union Dr, Los Angeles, CA for sale Plat Map- Image 16 of 17
Plat Map

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The Carlton Apartments | $99K/Unit | 7.81 GRM | 526 Union Dr
(310) 621-8221 x

The Carlton Apartments | $99K/Unit | 7.81 GRM | 526 Union Dr

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Brent Sprenkle

(310) 621-8221

(310) 621-8221

Parker Boehle

(310) 988-8361

(310) 988-8361

Alex Peterson

(213) 248-7047

(213) 248-7047

Billy Phan

(310) 531-4269

(310) 531-4269

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