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515 E 21st St 3 Unit Apartment Building $1,157,430 CAD ($385,810 CAD/Unit) 6.32% Cap Rate Los Angeles, CA 90011
Investment Highlights
- A Rare 3-Unit Apartment Community Featuring 3 Separate Structures on the Lot
- Recessed Lighting, New Hardwood Floors, Stainless Steel Appliances, New Electrical and Upgraded Plumbing in the Remodeled Units
- 6.32% CAP Rate at the Asking Price
- 2 of the 3 Units Have Been Remodeled Down To The Studs with High End Modern Finishes
- Large 3-Bedroom Remodeled Unit with a Living Room and Dining Room
- 5 Parking Spaces On-Site
Executive Summary
Rare 3-unit property featuring three separate bungalow-style structures on one lot. Two units fully remodeled with high-end finishes including recessed lighting, hardwood floors, stainless steel appliances, and upgraded electrical and plumbing. Strong unit mix with a large 3-bedroom unit plus 1-bedroom units. Offers a 6.32% cap rate with 5 on-site parking spaces. Prime location just minutes from Downtown LA, Crypto.com Arena, and USC.
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$105,229
|
$47.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,157
|
$1.44
|
| Effective Gross Income |
$102,072
|
$46.40
|
| Taxes |
$13,832
|
$6.29
|
| Operating Expenses |
$15,086
|
$6.86
|
| Total Expenses |
$28,918
|
$13.14
|
| Net Operating Income |
$73,154
|
$33.25
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $105,229 |
| Annual Per SF | $47.83 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,157 |
| Annual Per SF | $1.44 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $102,072 |
| Annual Per SF | $46.40 |
| Taxes (CAD) | |
|---|---|
| Annual | $13,832 |
| Annual Per SF | $6.29 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $15,086 |
| Annual Per SF | $6.86 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $28,918 |
| Annual Per SF | $13.14 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $73,154 |
| Annual Per SF | $33.25 |
Property Facts
| Price | $1,157,430 CAD | Building Class | C |
| Price Per Unit | $385,810 CAD | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 2,200 SF |
| Cap Rate | 6.32% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.99 | No. Stories | 1 |
| No. Units | 3 | Year Built | 1913 |
| Property Type | Multifamily | Parking Ratio | 2.27/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LARD2 | ||
| Price | $1,157,430 CAD |
| Price Per Unit | $385,810 CAD |
| Sale Type | Investment |
| Cap Rate | 6.32% |
| Gross Rent Multiplier | 10.99 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1913 |
| Parking Ratio | 2.27/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 3+2 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5127-017-004 | Total Assessment | $1,004,680 CAD (2025) |
| Land Assessment | $719,664 CAD (2025) | Annual Taxes | $13,832 CAD ($6.29 CAD/SF) |
| Improvements Assessment | $285,016 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
5127-017-004
Land Assessment
$719,664 CAD (2025)
Improvements Assessment
$285,016 CAD (2025)
Total Assessment
$1,004,680 CAD (2025)
Annual Taxes
$13,832 CAD ($6.29 CAD/SF)
Tax Year
2026
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