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2109 Manitou Ave 8 Unit Apartment Building $3,148,759 CAD ($393,595 CAD/Unit) 6.32% Cap Rate Los Angeles, CA 90031
Investment Highlights
- Good Lincoln Heights Location - Minutes Away from DTLA
- Excellent Unit Mix
- Five of Eight Units are Renovated
- Not Subject to LA City Rent Control
- One Unit Delivered Vacant
- On-Site Parking and Laundry
Executive Summary
Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 2109 Manitou Ave in Los Angeles, California. The subject property is located in a good Lincoln Heights location, south of N Broadway and West of Griffin Ave.
Located in Lincoln Heights just minutes from Downtown LA, this property offers strong accessibility and long-term upside. The asset is not subject to Los Angeles City rent control and features an excellent unit mix of two one-bedroom, four two-bedroom, and two three-bedroom units, with one unit delivered vacant. Five of the eight units have been renovated. Units are separately metered for gas and electricity and include individual water heaters. The property offers fourteen covered, gated on-grade parking spaces and on-site laundry. Tenants benefit from proximity to major corridors, freeways, Metro access, parks, and popular local amenities including cafes, retail, and Dodger Stadium nearby.
With RSO exemption, strong in-place income, one vacancy for immediate upside, and a well-located position in Lincoln Heights, this asset presents a compelling and flexible investment opportunity.
For OM, please visit: https://www.lamultifamilydeals.com/properties/2109-manitou-ave
Located in Lincoln Heights just minutes from Downtown LA, this property offers strong accessibility and long-term upside. The asset is not subject to Los Angeles City rent control and features an excellent unit mix of two one-bedroom, four two-bedroom, and two three-bedroom units, with one unit delivered vacant. Five of the eight units have been renovated. Units are separately metered for gas and electricity and include individual water heaters. The property offers fourteen covered, gated on-grade parking spaces and on-site laundry. Tenants benefit from proximity to major corridors, freeways, Metro access, parks, and popular local amenities including cafes, retail, and Dodger Stadium nearby.
With RSO exemption, strong in-place income, one vacancy for immediate upside, and a well-located position in Lincoln Heights, this asset presents a compelling and flexible investment opportunity.
For OM, please visit: https://www.lamultifamilydeals.com/properties/2109-manitou-ave
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,148,759 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $393,595 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.32% | Building Size | 7,152 SF |
| Gross Rent Multiplier | 9.98 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1989 |
| Property Type | Multifamily | Parking Ratio | 1.96/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LARD3 | ||
| Price | $3,148,759 CAD |
| Price Per Unit | $393,595 CAD |
| Sale Type | Investment |
| Cap Rate | 6.32% |
| Gross Rent Multiplier | 9.98 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,152 SF |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.96/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD3 |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 550 |
| 2+1 | 2 | - | 700 |
| 3+2 | 2 | - | 1,100 |
| 2+2 | 2 | - | 750 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5204-006-018 | Improvements Assessment | $833,809 CAD |
| Land Assessment | $958,385 CAD | Total Assessment | $1,792,195 CAD |
Property Taxes
Parcel Number
5204-006-018
Land Assessment
$958,385 CAD
Improvements Assessment
$833,809 CAD
Total Assessment
$1,792,195 CAD
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2109 Manitou Ave
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