3475 Union Pacific Ave, Los Angeles, CA 90023

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. 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. Owner-users occupying 51% or more of the building may qualify for SBA 504 financing with as little as 10% down, or conventional financing with 15% down, at current fixed rates of around 7%. 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 6.2 CAP return for investors.