Description

511 South Union Avenue is a fully leased, 100%-occupied multifamily asset totaling approximately 14,502 square feet in the heart of Los Angeles. Constructed in 1923, this historic property combines classic architectural character with stable tenancy and immediate cash flow. With all units currently leased, the building presents a turn-key investment opportunity for buyers seeking a hands-off income stream and potential for rent growth.

Offered at $3,150,000 ($217.21 per square foot), the property delivers an annual net operating income of $215,074, reflecting a 6.83% capitalization rate. At a gross rent multiplier of 8.2x and a cash-on-cash return of 5.03%, this asset provides a compelling value proposition. In-place rents average $1,186 per month, well below current market rents of $1,600, offering prospective owners an immediate path to enhance revenue through strategic rent adjustments.

Conveniently located in Los Angeles, the property benefits from proximity to major employment centers, public transit corridors and urban amenities. Its central location and historic appeal make 511 South Union Avenue an attractive addition to any multifamily portfolio, combining solid income fundamentals with upside potential in one of the nation’s most dynamic markets.