Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    429 Union Avenue, Los Angeles, CA 90017
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    429 Union Avenue
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    • MLS#: P1-18468 ( )
    • Street Address: 429 Union Avenue
    • Viewed: 6
    • Price: $3,250,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1926
    • Bldg sqft: 0
    • Days On Market: 208
    • Additional Information
    • County: LOS ANGELES
    • City: Los Angeles
    • Zipcode: 90017
    • Subdivision: Not Applicable
    • Provided by: The Agency
    • Contact: Sarah Sarah
    • DMCA Notice
    • 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.
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    Features
    Appliances
    1. Free-Standing Range
    2. Tankless Water Heater
    Assessments
    1. None
    Association Fee
    1. 0.00
    Building Area Total
    1. 10782.00
    Common Walls
    1. No Common Walls
    Cooling
    1. Central Air
    Country
    1. US
    Days On Market
    1. 128
    Fencing
    1. Wrought Iron
    Fireplace Features
    1. None
    Flooring
    1. Wood
    Garage Spaces
    1. 0.00
    Heating
    1. Central
    Insurance Expense
    1. 8000.00
    Laundry Features
    1. Inside
    Levels
    1. Two
    Lockboxtype
    1. Call Listing Office
    Lot Features
    1. Sprinklers None
    Netoperatingincome
    1. 169586.00
    Number Of Separate Electric Meters
    1. 21
    Number Of Separate Gas Meters
    1. 20
    Parcel Number
    1. 5153003010
    Parking Features
    1. None
    Pool Features
    1. None
    Postalcodeplus4
    1. 1012
    Professionalmanagementexpense
    1. 15000.00
    Security Features
    1. Carbon Monoxide Detector(s)
    2. Resident Manager
    3. Smoke Detector(s)
    4. Gated Community
    5. Card/Code Access
    Sourcesystemid
    1. 2024070317102905699800...
    Sourcesystemkey
    1. 20240703171029056998000000:CRF
    Spa Features
    1. None
    Subdivision Name Other
    1. Not Applicable
    Totalexpenses
    1. 128568.00
    Trash Expense
    1. 7872.00
    View
    1. City Lights
    Year Built
    1. 1926
    Year Built Source
    1. Assessor
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836