I am pleased to offer for sale the Union Apts, a 24-unit apartment community located at 1330 South Union Avenue. Positioned just South of Pico Boulevard, the property is situated in Pico-Union. The Pico-Union submarket borders three thriving markets - Downtown Los Angeles, Koreatown and University Park. The subject property offers investors significant rental upside to the remaining units.Built in 1916, the subject property is situated on a 7,300 square foot parcel, zoned LAR1.5. The property consists of 21 singles and 3 one-bedroom / one-bath units. The property is master-metered for all utilities and is subject to Los Angeles rent control statutes. Investors will have the opportunity to implement a comprehensive interior and exterior renovation to re-position the property into a truly unique vintage community and increase rental income by an estimated 42 percent.
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