514 Union Dr Los Angeles, CA 90017
Westlake NeighborhoodEstimated payment $29,401/month
Total Views
1,396
8
Beds
47
Baths
25,720
Sq Ft
$175
Price per Sq Ft
About This Home
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.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1926
Lot Details
- 8,406 Sq Ft Lot
Interior Spaces
- 25,720 Sq Ft Home
- 4-Story Property
Bedrooms and Bathrooms
- 8 Bedrooms
- 47 Bathrooms
Community Details
- 47 Units
- Vacancy Allowance $31,862
Listing and Financial Details
- Assessor Parcel Number 5153-006-018
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/05/2025 07/05/25 | Off Market | $1,395 | -- | -- |
| 06/03/2025 06/03/25 | Price Changed | $1,395 | -22.3% | $5 / Sq Ft |
| 04/08/2025 04/08/25 | Price Changed | $1,795 | 0.0% | $6 / Sq Ft |
| 03/01/2025 03/01/25 | For Sale | $4,500,000 | 0.0% | $175 / Sq Ft |
| 02/11/2025 02/11/25 | Price Changed | $1,395 | -20.9% | $5 / Sq Ft |
| 11/05/2024 11/05/24 | Price Changed | $1,764 | -8.4% | $6 / Sq Ft |
| 07/15/2024 07/15/24 | Price Changed | $1,925 | +66.7% | $6 / Sq Ft |
| 07/08/2024 07/08/24 | For Rent | $1,155 | -- | -- |
Source: The MLS
Similar Homes in Los Angeles, CA
Source: The MLS
MLS Number: 25517347
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© 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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