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Sherry Ramos

sherry.ramos@engelvoelkers.com +1(818) 429-2793

$ 3,250,000

Est. payment -/mo

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Active

429 S Union AVE Los Angeles, CA 90017

10,782 SqFt

UPDATED:

09/30/2024 06:53 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 10,782 sqft

Price per Sqft $301

MLS Listing ID P1-18468

HOA Y/N No

Year Built 1926

Lot Size 9,147 Sqft

Property Description

The current owner has spent the last 9 years lovingly restoring this character 1926 Spanish style residential income property. Architecturally, the property has a garden courtyard layout, providing semi-private outdoor spaces accessed off the 20 units. The units have retained their original architectural character, including original hardwood floors, 10' high ceilings, plaster walls, restored original windows with wavy glass and restored window ropes. 19 of the 20 units are approximately 530 SF each and offer 1 bedroom and 1 full bath. The owner's unit, unit 1, is approximately 650 SF and has 1 bedroom, 1 bathroom and another room that can be used as a small bedroom or an office. 17 mini-split Fujitsu brand units provide both heating and air conditioning. The mini-split units have been replaced in the last 7 years, and some are as new as 2 years old. The owner had a platform built for each of the mini-split units so that they are not sitting directly on the roof. The property is fully gated and has a camera system and a key-card access for the residents. There are 20 tankless water heaters for the 20 units. 15 stacked washers / dryers in the building. The building was re-roofed with new rolled composition roofing and a silicon layer was added over the rolled composition roofing material, approximately 5 years ago. There are 16 hard-wired cameras with DVR on the property, and new front and back gates. Time Warner cable underground. Windows and doors have been restored. Rewired electrical, updated electrical panels, 21 total electrical meters, 20 gas meters. Sewer line is mostly updated. Plumbing is mostly updated, within the last 5 years. New backflow regulator. New main water supply line, 1.5'' copper line. 10 storage units. Repainted the exterior with elastomeric paint. Flashing sheet metal is new; all sheet metal replaced, including scuppers and downspouts. This property is for investors seeking historic charm, modern convenience, and strong rental income in a sought-after Los Angeles neighborhood. Located in the Westlake community, the property is within 3 minutes or 1.1 miles from DTLA, Southwestern Law School and The Fashion Institute. Sited between Silver Lake and Echo Park, the property is near stores, small neighborhood shops, and restaurants.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Rooms

Ensuite Laundry Inside

Interior

Laundry Location Inside

Heating Central

Cooling Central Air

Flooring Wood

Fireplaces Type None

Fireplace No

Appliance Free-Standing Range, Tankless Water Heater

Laundry Inside

Exterior

Garage None

Fence Wrought Iron

Pool None

Community Features Curbs, Sidewalks, Gated

View Y/N Yes

View City Lights

Parking Type None

Private Pool No

Building

Lot Description Sprinklers None

Story 2

Entry Level Two

Level or Stories Two

Others

Senior Community No

Tax ID 5153003010

Security Features Carbon Monoxide Detector(s),Gated Community,Key Card Entry,Resident Manager,Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Listed by Sarah Rogers • The Agency

Sherry Ramos

Advisor | License ID: 01271018

+1(818) 429-2793

Sherry Ramos

429 S Union AVE Los Angeles, CA 90017

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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429 S Union AVE