521 S Union Ave - Apartments FOR SALE


Los Angeles, CA 90017- Westlake North
$1,600,000 USD
521 S Union Ave, Los Angeles, CA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/25
null | 8.49% Cap Rate

521 S Union Ave
Los Angeles, CA 90017
Westlake North


HIGHLIGHTS

  • Transit-Oriented Westlake Location Adjacent to DTLA: Located just blocks from the Westlake / MacArthur Park Metro Station.
  • The property also benefits from a Walk Score of 95, placing tenants within walking distance of retail, grocery, dining, and employment centers.
  • Strong Rental Market Fundamentals: Westlake is one of Los Angeles’ most densely populated rental submarkets, driven by strong tenant demand.
  • Efficient Unit Mix with Vacancy: Comprised of (18) SRO units and (2) studios, with 6 units delivered vacant, creating immediate leasing.
  • 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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$244 USD /SF

# OF UNITS

20

PRICE/UNIT

$80,000

CAP RATE

8.49%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1913

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,226 SF

ZONING

LAR4

APN/PARCEL ID

5153-004-016

ASK ABOUT THIS PROPERTY

Tony AzziMarcus & MillichapMore Info

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Tony AzziMarcus & MillichapMore Info

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