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2651 South Manhattan Place

Los Angeles CA 90018

5
17
9840 sq. ft.
6525 sq. ft.
Other
Currently for sale - view listing

Overview

We are pleased to present a seventeen (17) unit apartment building located at 2651 Manhattan Place in Los Angeles, California. The subject property is located in a solid West Adams location, south of W Adams Boulevard and west of Western Avenue. This well-located multifamily property in the heart of West Adams presents a strong investment opportunity with a desirable unit mix of twelve (12) spacious studios and five (5) large one-bedroom units, including one (1) unit delivered vacant. Offering a solid initial cap rate of 6.29% and significant rental upside potential of over 30%, the property is primed for value-add investors. Recent electrical upgrades with new panels and separately metered gas and electricity help reduce operational costs, while low maintenance landscaping and ample street parking add to overall convenience. There is also an unfinished non-conforming studio unit in the basement, which can quickly be converted into a market rate rental unit as an ADU. Tenants benefit from immediate access to key commercial corridors Western Ave, Normandie Ave, W Adams Blvd, and Jefferson Blvd as well as the 10, 110, and 101 Freeways. The property is also steps from the Loren Miller Recreation Center and a wide array of dining options including Starbucks and Bird's Nest Cafe, making it a highly attractive offering in a rapidly growing submarket. With a strong 6.29% cap rate, over 30% rental upside, and a central West Adams location near major corridors, this property offers an exceptional investment opportunity in one of Los Angeles' most dynamic submarkets.

Features

5 bedrooms
17 bathrooms
9840 sq. ft. floor area
6525 sq. ft. lot size
Other

Happy sellers in Los Angeles

94%
94% of sellers in Los Angeles reported that their sale price either exceeded or met their price expectations.

Los Angeles stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 3 reviews in Los Angeles over the last 12 months.

Local market activity for 5 bedroom other properties in Los Angeles

In the last 12 months, 2 five-bedroom other properties similar to 2651 South Manhattan Place, have been sold.

This represents a 100% decrease in five-bedroom other properties sales when compared to the previous 12 months.

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Sales:
(619) 566-0008
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