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515 E 21st Street

Los Angeles, CA 90011
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Bed 5

Bed

Bath 0

Bath

SqFt2,154

Sqft

SqFt6,357

Sqft(Lot)

This rare 3-unit apartment community offers a unique investment opportunity featuring three separate structures on a single lot, providing enhanced privacy, flexibility, and strong tenant appeal. Strategically located just minutes from Downtown Los Angeles, the property benefits from proximity to major employment centers, entertainment venues, and top educational institutions, making it highly desirable in today's rental market. The property boasts a well-balanced unit mix consisting of a spacious three-bedroom unit and additional one-bedroom bungalow-style units. The standout feature is the large, fully remodeled three-bedroom residence, which includes a dedicated living room and dining area ideal for families or tenants seeking more functional living space. This unit, along with one of t he one-bedroom units, has been extensively renovated down to the studs, offering modern interiors and high-end finishes that significantly enhance rental appeal. The remodeled units feature recessed lighting, new hardwood flooring, stainless steel appliances, updated electrical systems, and upgraded plumbing. These improvements not only elevate the overall aesthetic but also reduce future maintenance costs for ownership. The modern upgrades position the property competitively within the market, allowing for premium rents and attracting quality tenants. The presence of three separate structures creates a bungalow-style living environment, which is increasingly sought after by renters looking for privacy and a more residential feel compared to traditional apartment buildings. This layout can contribute to lower tenant turnover and increased long-term occupancy. From an investment perspective, the property is offered at an attractive 6.8% cap rate, providing strong in-place cash flow. With two units already fully renovated, new ownership can benefit from immediate rental income at improved market rates while potentially enhancing the remaining unit to further increase overall returns. The property also includes five on-site parking spaces, a valuable amenity in a densely populated urban area like Los Angeles. Ample parking enhances tenant convenience and adds to the overall desirability of the asset, particularly for larger households occupying the three-bedroom unit. Location remains one of the strongest attributes of this offering. The property is situated just minutes from iconic destinations such as Crypto Arena and is in close proximity to the University of Southern California campus. This prime positioning ensures consistent rental demand from students, professionals, and families who value accessibility to both work and leisure destinations. Additionally, the surrounding area continues to experience ongoing growth and revitalization, further strengthening the long-term investment outlook. Easy access to major transportation routes, dining, entertainment, and cultural attractions makes this location highly attractive for a wide range of tenants. Overall, this property presents a compelling combination of modern upgrades, strong cash flow, and an excellent location. The mix of renovated and value-add components, along with the unique bungalow-style layout, provides investors with both immediate income and future upside potential. With its proximity to Downtown Los Angeles and major landmarks, this asset stands out as a rare opportunity in a competitive market.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $790,000

AD Id : 76271359

MLS Id : 26666433

Beds : 5

Lot Size : 6,357 Sqft

Living Area Size : 2,154

Year Built : 1913

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 5

    Bathroom Information

    Total Baths: 4
  • Heating & Cooling

    Heating: None

  • Building Information

    Year Built: 1913
    Building Area Total: 2154
    Stories: 1
    Private Pool: No

  • Lot Information

    Main Square Feet: 6357 Lot Size Acres: 0.1459 Lot Size Square Feet: 6,357

  • Listing Price Information

    Listing Price: $790000
    Original Price: $845000

  • Tax Information

    Parcel Number: 5127017004

  • Location Information

    Direction: Please contact listing agent.
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1554 E 24th Street, Los Angeles, CA, 90011 $499,900 2 1 650 650 SqFt
1335 1337 E Adams, Los Angeles, CA, 90011 $2,100,000 14 5 4,266 4,266 SqFt
1325 E Adams Boulevard, Los Angeles, CA, 90011 $1,095,000 7 -- 2,838 2,838 SqFt
1471 E 41st, Los Angeles, CA, 90011 $875,000 3 2 --
946 E 21st Street, Los Angeles, CA, 90011 $2,395,000 22 -- 7,320 7,320 SqFt
1132 E 27th Street, Los Angeles, CA, 90011 $799,000 6 5 1,486 1,486 SqFt
923 E 25th Street, Los Angeles, CA, 90011 $615,000 3 2 1,615 1,615 SqFt
856 E 22nd Street, Los Angeles, CA, 90011 $1,150,000 5 -- 4,219 4,219 SqFt
1426 E 48th Place, Los Angeles, CA, 90011 $689,000 4 2 1,269 1,269 SqFt
5426 Compton, Los Angeles, CA, 90011 $849,900 -- -- 4,186 4,186 SqFt

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 07/25/2026 @ 04:57

MLS: 26666433 LISTED BY: Sean Namigohar, Lyon Stahl Investment Real Estate, Inc. 310-425-9838 SOURCE: CRMLS

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