521 S Union Ave — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90017

Investment Figures

Cap rate
8.49%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap are pleased to present the opportunity to acquire 521 S Union Avenue, a 20-unit investment opportunity located in the vibrant 90017 zip code of Los Angeles. Investment Highlights: • Westlake is one of Los Angeles' most densely populated rental submarkets, driven by strong tenant demand and relative affordability compared to surrounding neighborhoods. • Comprised of (18) SRO units and (2) studios, with 6 units delivered vacant, creating immediate leasing and rental upside opportunities. • Offered at a true 8.49% cap rate and 6.04 GRM on current income, with 18.17%+ rental upside through future lease turn and optimization. • Transit-Oriented Westlake Location Adjacent to DTLA: Located just blocks from the Westlake / MacArthur Park Metro Station, providing direct connectivity to Downtown Los Angeles, Koreatown, Echo Park, Silver Lake, and Hollywood. The property also benefits from a Walk Score of 95, placing tenants within walking distance of retail, grocery, dining, and employment centers.

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 8.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 8.5% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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