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521 S Union Ave 20 Unit Apartment Building $2,224,928 CAD ($111,246 CAD/Unit) 8.49% Cap Rate Los Angeles, CA 90017
Investment Highlights
- Transit-Oriented Westlake Location Adjacent to DTLA: Located just blocks from the Westlake / MacArthur Park Metro Station.
- Strong Rental Market Fundamentals: Westlake is one of Los Angeles’ most densely populated rental submarkets, driven by strong tenant demand.
- Attractive In-Place Returns with Upside: Offered at a true 8.49% cap rate and 6.04 GRM on current income, with 18.17%+ rental upside
- The property also benefits from a Walk Score of 95, placing tenants within walking distance of retail, grocery, dining, and employment centers.
- Efficient Unit Mix with Vacancy: Comprised of (18) SRO units and (2) studios, with 6 units delivered vacant, creating immediate leasing.
Executive Summary
The Azzi Group of Marcus & Millichap is pleased to present 521 S Union Ave, a 20-unit multifamily investment opportunity located in the highly desirable Westlake neighborhood of Los Angeles. Built in 1913, the property consists of efficiently designed units and offers investors the opportunity to acquire an asset with strong income growth potential in a supply-constrained, high-demand rental market.
The offering consists of a well-located asset providing investors with solid in-place income and the opportunity to enhance value through strategic repositioning and rental growth over time.
Built in 1913, the fee-simple property features an efficient unit layout and classic construction, offering a proven residential product that continues to attract consistent tenant demand in a dense urban setting.
521 S Union Ave benefits from its prime infill location just minutes from Downtown Los Angeles, with convenient access to major transit corridors and employment hubs. Residents also enjoy proximity to a wide range of dining, retail, and entertainment options throughout Westlake and the surrounding urban core.
Westlake remains one of Los Angeles’ most active rental markets, driven by its central location, accessibility, and strong demand fundamentals, making 521 S Union Ave a compelling investment opportunity with both stability and long-term upside.
The offering consists of a well-located asset providing investors with solid in-place income and the opportunity to enhance value through strategic repositioning and rental growth over time.
Built in 1913, the fee-simple property features an efficient unit layout and classic construction, offering a proven residential product that continues to attract consistent tenant demand in a dense urban setting.
521 S Union Ave benefits from its prime infill location just minutes from Downtown Los Angeles, with convenient access to major transit corridors and employment hubs. Residents also enjoy proximity to a wide range of dining, retail, and entertainment options throughout Westlake and the surrounding urban core.
Westlake remains one of Los Angeles’ most active rental markets, driven by its central location, accessibility, and strong demand fundamentals, making 521 S Union Ave a compelling investment opportunity with both stability and long-term upside.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,224,928 CAD | Property Subtype | Apartment |
| Price Per Unit | $111,246 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.49% | Lot Size | 0.21 AC |
| Gross Rent Multiplier | 6.04 | Building Size | 6,565 SF |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1913 |
| Zoning | LAR4 | ||
| Price | $2,224,928 CAD |
| Price Per Unit | $111,246 CAD |
| Sale Type | Investment |
| Cap Rate | 8.49% |
| Gross Rent Multiplier | 6.04 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 6,565 SF |
| No. Stories | 2 |
| Year Built | 1913 |
| Zoning | LAR4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 250 - 500 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5153-004-016 | Improvements Assessment | $452,759 CAD |
| Land Assessment | $346,223 CAD | Total Assessment | $798,982 CAD |
Property Taxes
Parcel Number
5153-004-016
Land Assessment
$346,223 CAD
Improvements Assessment
$452,759 CAD
Total Assessment
$798,982 CAD
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521 S Union Ave
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