The Carlton Apartments | $99K/Unit | 7.81 GRM | 526 Union Dr
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The Carlton Apartments | $99K/Unit | 7.81 GRM 526 Union Dr
51 Unit Apartment Building $7,222,010 CAD ($141,608 CAD/Unit) 6.15% Cap Rate Los Angeles, CA 90017
Investment Highlights
- 7.81 GRM on Current Income With Massive Upside
- 6.15% Current Cap Rate & 10.27% on Market Rents
- Only $99k Per Unit and $159 Per Square Foot
- Stunning City Views from Select Units
Executive Summary
526 S Union Dr (The Carlton Apartments) is a 51-unit 1920’s built apartment building situated in the Westlake neighborhood of Los Angeles. The subject property is in close proximity to Downtown Los Angeles, Koreatown, and Hollywood. The Carlton Apartments offers 45 studio apartments each measuring approximately 450 square feet and 6 one-bedroom apartments measuring approximately 600 square feet. The average unit size is approximately 468 square feet and is individually metered for both electricity and gas. The property is a 5-story reinforced brick structure serviced by one elevator, two staircase and internal hallways and units are individually metered for electricity and gas.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,222,010 CAD | Property Subtype | Apartment |
| Price Per Unit | $141,608 CAD | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.15% | Building Size | 32,001 SF |
| Gross Rent Multiplier | 7.81 | No. Stories | 5 |
| No. Units | 51 | Year Built | 1926 |
| Property Type | Multifamily |
| Price | $7,222,010 CAD |
| Price Per Unit | $141,608 CAD |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Gross Rent Multiplier | 7.81 |
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Building Size | 32,001 SF |
| No. Stories | 5 |
| Year Built | 1926 |
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 45 | $2,020 CAD | 450 |
| 1+1 | 6 | $2,339 CAD | 600 |
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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (89)
PROPERTY TAXES
| Parcel Number | 5153-006-016 | Total Assessment | $2,176,128 CAD |
| Land Assessment | $410,582 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,765,547 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5153-006-016
Land Assessment
$410,582 CAD
Improvements Assessment
$1,765,547 CAD
Total Assessment
$2,176,128 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | R5-2 (Multiple Dwelling Zone) |
| R5-2 (Multiple Dwelling Zone) |
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The Carlton Apartments | $99K/Unit | 7.81 GRM | 526 Union Dr
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