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1226 S Manhattan Pl 6 Unit Apartment Building $3,451,957 CAD ($575,326 CAD/Unit) 6.03% Cap Rate Los Angeles, CA 90019
Investment Highlights
- Fully renovated interiors and building systems completed in 2023.
- All units separately sub-metered for gas, electricity, and water, reducing utility expenses.
- Centrally located with direct access to the 10 Freeway and nearby cultural landmarks including LACMA and The Grove.
- Six-unit configuration featuring a blend of two- and three-bedroom layouts.
- 100% occupancy with strong in-place rents and immediate cash flow.
Executive Summary
Located in Country Club Park neighborhood, the subject property is centrally located offering quick access to premium entertainment such as LAACMA and The Grove.
The property is located close to the 10 Freeway offering easy access to many other locations in the greater Los Angeles Area. The building has a diverse mix of 2 three-bedroom, 4 two-bedroom (with professionally installed partition walls), and two one-bedroom units. All of the units have been completely remodeled with brand new electrical, plumbing, and mechanical. These units are also completely sub-metered for gas, electrical, and water resulting in an extremely low utility expense which is rare in the Los Angeles market. Due to the renovations the expense profile of the property is extremely low, and will allow for strong cash flow immediately
The property is located close to the 10 Freeway offering easy access to many other locations in the greater Los Angeles Area. The building has a diverse mix of 2 three-bedroom, 4 two-bedroom (with professionally installed partition walls), and two one-bedroom units. All of the units have been completely remodeled with brand new electrical, plumbing, and mechanical. These units are also completely sub-metered for gas, electrical, and water resulting in an extremely low utility expense which is rare in the Los Angeles market. Due to the renovations the expense profile of the property is extremely low, and will allow for strong cash flow immediately
Property Facts
| Price | $3,451,957 CAD | Building Class | C |
| Price Per Unit | $575,326 CAD | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 4,802 SF |
| Cap Rate | 6.03% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1949/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LAR1 - Restricted Density Multiple | ||
| Price | $3,451,957 CAD |
| Price Per Unit | $575,326 CAD |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,802 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1949/2023 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | LAR1 - Restricted Density Multiple |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Double Pane Windows
- Freezer
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Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5080-005-004 | Improvements Assessment | $501,989 CAD |
| Land Assessment | $1,171,312 CAD | Total Assessment | $1,673,301 CAD |
Property Taxes
Parcel Number
5080-005-004
Land Assessment
$1,171,312 CAD
Improvements Assessment
$501,989 CAD
Total Assessment
$1,673,301 CAD
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1226 S Manhattan Pl
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