Exclusive Listings

132 Union Pl - Multifamily Development Opportunity

Address:
132 Union Place
Los Angeles, CA 90026
Price:
$850,000
Status:
Available
Type:
Land
# Units:
Year Built:
0
Building Size:
Lot Size:
8,340 SF
CAP Rate:
4.0%
GRM:
17.42x
Price/Unit:
Price/SqFt:

Investment Highlights

  • Excellent development opportunity to develop new multi-family units
  • Build up to 10 units of brand new construction per city regulation
  • Great location near Silver Lake, Echo Park, Downtown Los Angeles, Staples Center, and USC
  • Recently upgraded aquatic center nearby
  • Adjacent to all major freeways
  • Easily accessible to many restaurants in Silver Lake and Downtown Los Angeles
  • Available front street access and back alley access
  • Area is rapidly gentrifying and is being named Silver Lake South- The Temple/ Beverly Corridor is new “IT” location 

The Growth Investment Group is proud to offer a development opportunity in a rapidly gentrifying area near Silver Lake and Echo Park in Los Angeles, California. This site presents an immense opportunity to build a new multi-family unit. Major new developments have been increasing across the area, while the city recently put in over 30 million dollars to transform Echo Park. The same transformation will happen here as well.



This site is less than a half a mile from the most attractive parts of Silver Lake and Echo Park, and less than a mile to Downtown Los Angeles. Affluent millennials desire to live in this area and thus attracts high rents. Local developers are receiving over $1,900 for a one bedroom and $2,700 for a 2 bedroom.

This location is minutes away from areas including Downtown Los Angeles, Silver Lake, Sunset Blvd., Dodger Stadium, Staples Center, the Metro, as well as convenient access to the 101, 2, 5, 10 and 110 freeways. Nearby schools include Belmont Senior High School, Los Angeles High School for the Arts (LAHSA) and Los Angeles Teachers Preparatory Academy. Buyer is responsible to check all zoning and building regulations with the city of Los Angeles. 


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

Marc Schwartz
Direct: 213.362.8500
marcschwartz@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
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