NOT LISTED FOR SALE

306 Union Place Los Angeles, CA 90017

Westlake Neighborhood

Estimated Value: $2,550,818

0.21 Acre
$12,146,752 Price per Acre
9,485 Sq Ft Lot

Last Sold February 26, 2020

Last sale price $1,830,000

Est. 39% increase in value since last sale

Current estimated payment $15,465/month

20 Days on Market

About This Lot

As of February 2020

NO AFFORDABLE OR RENT CONTROL COMPONENT! NO LINKAGE FEE. Property delivered fully RTI with all stamped approved plans, ready for Buyer to pay for and pull building permits and start construction (November 2019) for 19 apartment units, Entitled BY RIGHT. The lot currently is vacant and there are no Tenants to relocate! Beautiful class A project for the higher end renters. 37 Parking spaces on 2 levels (semi sub). ***NOTE*** Potential to re-entitle the property for approx 40units per TOC TIER 3 using existing survey, soil report, phase I&II, and submission case# with city of LA. 0.5 Miles from DTLA, McArthur Park, and Metro. All units with balconies and in unit washer/dryers. Unit Mix: 11 units 1bed, 1 bath and 8 units 2bed, 2bath. Excellent presentation for a first class residential building. Clear views of DTLA from top floors.

Last Agent to Sell the Property

Tannaz Rahbar

Real Estate Source, Inc. License #00951232 Listed on: 10/02/2019

Real Estate Source, Inc.

Last Buyer's Agent

Xiao Ling Li

Sky Terrace Incorporation License #02088166

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $23,929

Lot Details

  • 9,485 Sq Ft Lot
  • Lot Dimensions are 76x125
  • Property is zoned LAC2 - TOC TIER 3

Property Views

  • City Views

Utilities

  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 5153-007-010

Property Details

Property Type

Land

Est. Annual Taxes

$23,929

Lot Details

0

Listing Details

  • Property Type: Land
  • Street Number Display: Yes
  • Advertising Remarks: NO AFFORDABLE OR RENT CONTROL COMPONENT! NO LINKAGE FEE. Property delivered fully RTI with all stamped approved plans, ready for Buyer to pay for and pull building permits and start construction (November 2019) for 19 apartment units, Entitled BY RIGHT. The lot currently is vacant and there are no Tenants to relocate! Beautiful class A project for the higher end renters. 37 Parking spaces on 2 levels (semi sub). ***NOTE*** Potential to re-entitle the property for approx 40units per TOC TIER 3 using existing survey, soil report, phase I&II, and submission case# with city of LA. 0.5 Miles from DTLA, McArthur Park, and Metro. All units with balconies and in unit washer/dryers. Unit Mix: 11 units 1bed, 1 bath and 8 units 2bed, 2bath. Excellent presentation for a first class residential building. Clear views of DTLA from top floors.
  • Lot Dimensions: 76x125
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • View: City
  • View: Yes

Utilities

  • Cable: Yes
  • Telephone: Yes

Lot Info

  • Assessor Parcel Number: 5153-007-010
  • Geocode Override: No
  • Lot Size Area: 9485

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 25, 2019
Sold by
306 South Union Place Llc
Bought by
Kaihong Investment Llc
Current Estimated Value
$2,550,818

Purchase Details

Closed on
Jun 21, 2017
Sold by
Lejob Enterprises Inc
Bought by
306 South Union Place Llc
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Kaihong Investment Llc $1,830,000 Fidelity National Title
306 South Union Place Llc $1,050,000 Ticor Title Company
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/26/2020 02/26/20 Sold $1,830,000 -7.8% --
10/22/2019 10/22/19 Pending -- -- --
10/02/2019 10/02/19 For Sale $1,985,000 -- --
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $23,929 $2,001,370 $2,001,370 --
2024 $23,929 $1,962,128 $1,962,128 --
2023 $23,466 $1,923,655 $1,923,655 $0
2022 $22,375 $1,885,937 $1,885,937 $0
2021 $22,120 $1,848,958 $1,848,958 $0
2020 $13,763 $1,114,268 $1,093,044 $21,224
2019 $13,782 $1,092,420 $1,071,612 $20,808
2018 $13,621 $1,071,000 $1,050,600 $20,400
2016 $6,713 $503,010 $239,135 $263,875
2015 $6,624 $495,455 $235,543 $259,912
2014 $6,657 $485,751 $230,930 $254,821
Source: Public Records

Agents Affiliated with this Home

  • Tannaz Rahbar

    Seller's Agent in 2020

    Tannaz Rahbar

    Real Estate Source, Inc.

    (310) 995-7545

    1 Total Sale

    Tannaz Rahbar
    Section Image

  • X

    Buyer's Agent in 2020

    Xiao Ling Li

    Sky Terrace Incorporation

See All Agents

Map

Source: The MLS

MLS Number: 19-517300

The MLS

APN: 5153-007-010

California Los Angeles County Los Angeles 90017 Westlake

306 Union Place, Los Angeles, CA

This home is located at 306 Union Place, Los Angeles, CA 90017 since 02 October 2019 and is currently estimated at $2,550,818. 306 Union Place is a home located in Los Angeles County with nearby schools including Union Avenue Elementary, John H. Liechty Middle School, and Belmont High School.

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