48
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$2,100,000
Est. payment /mo
8,380 Sqft Lot
Active
3475 Union Pacific AVE Los Angeles, CA 90023
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UPDATED:
12/05/2024 02:28 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24420541
HOA Y/N No
Year Built 1942
Lot Size 8,380 Sqft
Property Description
Welcome to 3475 Union Pacific, an artist compound featuring two separate studio spaces totaling 4,476 sq ft and gated parking for five. This private compound is situated on an 8,380 sq ft lot in the vibrant, creative community of Boyle Heights. The property offers a generous building-to-land ratio for the area's standards, with 4,476 square feet across two standalone buildings on 8,276 square feet of land.The main building is a reimagined artist loft with 20-foot ceilings, gorgeous natural lighting, polished concrete floors, a 12-foot roll-up gate, and a custom gourmet kitchen. It also boasts a beautiful bathroom with a shower and a versatile second-story loft currently used as a sleeping space. This building has been meticulously updated with new drywall, industrial heating and air conditioning, upgraded electrical and plumbing, skylights, and separate storage and laundry rooms. The high-end renovations included new plumbing, HVAC, an alarm system, windows and doors, bathroom and light fixtures, exterior lighting, and a custom kitchen installation.The second building has also been thoroughly renovated and is currently used as a wood shop with a separate office and full bathroom. It features a new roof, upgraded electrical, concrete floors, wall-mounted mini splits, a separate office space, and a motorized roll-up door.Gated and private, this property offers immense potential for a music studio, gallery space, art studio, creative office space, woodworking studio, and much more. With its versatile layout, it is ideal for a wide range of artistic owner-users seeking an adaptable workspace. The property features two separate structures, making it a great opportunity for an owner-user to lease out one building and occupy the other.The property's power capacity ranges from 120V to 480V (2 meters), and it is located within a qualified Opportunity Zone in the East Los Angeles State Enterprise Zone. Fixed financing with 10% on SBA loans and 15% down payments is available, with rates starting in the high 5% range with most conventional lenders (for properties with 51% or more SF occupied). Additional features include a custom automatic gate, solar outdoor lights, and an electric vehicle charger.This property is designed to inspire and support your artistic endeavors with its incredible flow and dynamic energy. Don't miss this unique opportunity to own a fully renovated turnkey creative office/art studio/manufacturing space in LA, zoned M2, with a projected rent for a highly improved building like this at $2.80 PSF and a 5.8 CAP return for investors.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Zoning LAM2
Rooms
Other Rooms Living Quarters
Interior
Heating Central, Wall Furnace
Fireplace No
Laundry Laundry Closet
Exterior
Community Features Gated
Roof Type Metal,Shingle
Total Parking Spaces 5
Building
Lot Description Back Yard, Rectangular Lot
Story 1
Additional Building Living Quarters
Others
Tax ID 5190037017
Security Features Security Gate,Gated Community
Financing Cash
Special Listing Condition Standard
Listed by Charles W Clark • Compass
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