The James Group sold this 32 unit building in the Westlake submarket of Los Angeles, in close proximity to Downtown. The property features a great unit mix consisting of (22) Studio, 1 Bath, (8) 1 Bed, 1 Bath, and (2) 2 Bed/1 Bath units. The unit mix is spread out over 17,364 square feet and sits on a 7,495 square foot lot and is zoned LAC2.The building is separately metered for gas and electricity. A future investor will benefit from the upside in rental potential of approximately 45%. There is additional billboard income as well diversifying the income stream for this investment.
The property benefits greatly from its location, as it sits just west of Downtown Los Angeles, which has a massive resurgence over the past decade. Hosting a large number of LA’s eateries, bars, nightlife, the draw to renters has surged making the submarket a premiere rental pocket. Additionally, Downtown Los Angeles continues to be an economic hub and employment center putting 811 S. Union in an ideal location for renters to capitalize on future growth.
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