Westwood Bay

Los Angeles, CA 900241575 Manning Ave.

Property Type: Multifamily
For Sale

Details

  • Price: 2,850,000
  • Cap Rate: 3.23%
  • GRM: 21.32
  • Cost per SF: $688.74
  • Cost per unit: $950,000
  • Year Built: 1947
  • Square Footage: 4,138
  • Lot Size: 6,500 FT
  • Units: 3
  • No. Stories: 2
  • Parking: 6
  • Transaction Type: For Sale
  • Property Type: Multifamily
  • Zoning: LAR3
  • Building Class: N/A
  • APN/Parcel ID: 4325-031-015

Property Description

1575 Manning Avenue is a charming triplex located in the highly coveted Westwood neighborhood of Los Angeles.  This investment opportunity presents an ideal income property for either an owner-user, or an investor looking to acquire a rare value-add asset. This is a rare offering in that ALL units will be delivered vacant at the close and fully furnished!

The property is comprised of three units in a two-story building built in 1947. This building totals +/- 4,138 square feet and is constructed of wood frame, pitched roof, and a painted stucco exterior. The building is situated on a spacious lot with rear yard & patio zoned LAR3 totaling +/- 6,500 square feet.

All three units have been completely restored offering hardwood flooring, granite countertops, stainless appliances, and newer kitchen cabinets in two of the units.  The building’s unit-mix is comprised of 1 two-bedroom/one-bathroom unit, and 2 three-bedroom/two-bathroom units.  The building’s design is traditional-style architecture, and the property is perfectly situated in one of the most desirable sub-markets of Los Angeles just minutes away from Westwood Village. As a bonus the property offers potential for multiple ADUs and we have a preliminary study ready for review.

Westwood Village, immediately adjacent to UCLA, is an iconic district of Los Angeles with historic points of interest that have made the village a famous destination since 1929.  Cultural attractions include the Hammer Museum and Geffen Playhouse.  Westwood is also the home to the UCLA Botanical Gardens as well as the famous Fox Village Theatre. The location is adjacent to other prime affluent areas including Beverly Hills, West L.A. and Century City!

Property Highlights

  • All 3 Units are fully renovated
  • All units delivered vacant and furnished at close of escrow
  • Potential for multiple ADUs
  • Charming 40’s architecture
  • Prime Westwood location
  • Nice 6,500 SF Lot/Zoned LAR3 with rear yard and patio area
  • Two enclosed 2 car garages & 2 uncovered parking spaces

Request Information

Once you schedule a call, you’ll have taken the first step to getting the representation you deserve.

23975 Park Sorrento Suite 110
Calabasas, CA 91302