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2119 S Union Ave 2119 S Union Ave 6 Unit Apartment Building $2,098,126 CAD ($349,688 CAD/Unit) 7.37% Cap Rate Los Angeles, CA 90007
Investment Highlights
- USC STUDENT HOUSING OPPORTUNITY!!
- LOCATED WITHIN DPS PATROL ZONE AND RIDE SHARE PROGRAM!
- NEW ADU BUILT IN 2024!
- LOCATED JUST MINUTES AWAY FROM THE USC CAMPUS!
- HUGE RENTAL UPSIDE!
Executive Summary
CASH COW! An exceptional opportunity to own a 6-unit private student housing property near the University of Southern California. Located within USC's Department of Public Safety Patrol Zone and Campus Cruiser area, this asset offers immediate income with a 6.9% CAP Rate. The property includes a renovated 4-unit building built in 1912 with one fully remodeled unit featuring new plumbing, HVAC, electrical, kitchen, baths, flooring, lighting, doors, windows, and upgraded main water line and electric panel. In addition, there is a brand new 2-story ADU built in 2024 with two 3-bedroom, 3-bathroom townhome-style units designed for student living with modern finishes and efficient systems. The property offers potential for up to 30 beds with double occupancy layouts and is within walking distance to USC Campus, Metro Line, USC Village, and Exposition Park, property located within DPS patrol zone and ride share program. the property is surrounded by strong student rental demand! This investment combines strong existing income with major upside through student unit conversions.
Agent Remarks : For more information regarding showings please contact Michael Fukushima at (818) 321-6490 or Stephen Watson at (213) 446-3636. DRIVE BY ONLY! DO NOT DISTURB TENANTS!
Agent Remarks : For more information regarding showings please contact Michael Fukushima at (818) 321-6490 or Stephen Watson at (213) 446-3636. DRIVE BY ONLY! DO NOT DISTURB TENANTS!
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$219,119
|
$32.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$219,119
|
$32.85
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$64,483
|
$9.67
|
| Net Operating Income |
$154,635
|
$23.18
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $219,119 |
| Annual Per SF | $32.85 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $219,119 |
| Annual Per SF | $32.85 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,483 |
| Annual Per SF | $9.67 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $154,635 |
| Annual Per SF | $23.18 |
Property Facts
| Price | $2,098,126 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $349,688 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.37% | Building Size | 6,671 SF |
| Gross Rent Multiplier | 10.2 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1912/2024 |
| Property Type | Multifamily | Parking Ratio | 0.3/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LARD2 - Multiple Dwelling | ||
| Price | $2,098,126 CAD |
| Price Per Unit | $349,688 CAD |
| Sale Type | Investment |
| Cap Rate | 7.37% |
| Gross Rent Multiplier | 10.2 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,671 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1912/2024 |
| Parking Ratio | 0.3/1,000 SF |
| Zoning | LARD2 - Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Kitchen
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $1,242 CAD | - |
| 3+3 | 3 | $4,798 CAD | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5124-002-010 | Improvements Assessment | $496,836 CAD (2025) |
| Land Assessment | $745,254 CAD (2025) | Total Assessment | $1,242,091 CAD (2025) |
Property Taxes
Parcel Number
5124-002-010
Land Assessment
$745,254 CAD (2025)
Improvements Assessment
$496,836 CAD (2025)
Total Assessment
$1,242,091 CAD (2025)
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