3355 Manning Avenue

Los Angeles, CA 90064

$7,300,000
Price
36
Beds
19
Baths
17,849 Sq. Ft.
$409 / Sq. Ft.
17,849
Sq. Ft.
$409
per Sq. Ft.

Description

We are pleased to present a prestigious opportunity to acquire a true pride of ownership property in one of the best rental locations in prime West Los Angeles. 3355 Manning Avenue, known as Cheviot Lanai, has been lovingly cared for, operated and managed by the same family since it was built by them in 1956. The beautiful open courtyard property boasts an ideal unit mix consisting of all large 1, 2, and 3-bedroom units. Each of the units is extremely spacious, has a terrific floor plan, and offers...We are pleased to present a prestigious opportunity to acquire a true pride of ownership property in one of the best rental locations in prime West Los Angeles. 3355 Manning Avenue, known as Cheviot Lanai, has been lovingly cared for, operated and managed by the same family since it was built by them in 1956. The beautiful open courtyard property boasts an ideal unit mix consisting of all large 1, 2, and 3-bedroom units. Each of the units is extremely spacious, has a terrific floor plan, and offers an abundance of natural light. The property is an ideal mid-century gem situated on nearly a half acre of land zoned R3. Units feature hardwood floors (select units), spacious kitchens/bedrooms/bathrooms, large balconies, and an in-unit washer and dryer (select units). The units that do not have a washer and dryer have laundry hookups for them (except the 1-bedroom unit). Other property features include a well landscaped courtyard with a large sparkling pool, copper plumbing, intercom entrance, a pitched roof, and ample on-site parking. All soft story retrofit work has been completed by ownership. Close to some of the Westside's best dining and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best pockets of the Westside.
  1. Listed by Jonathan Taksa • DRE #01366169 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 3355 Manning Avenue

Zoning
LAR3
Parcel Number
4316032006
Total Units
18.0
Living Area
17849
Source Living Area
Assessor
Area
Cheviot Hills/Rancho Park (C08)
Vacancy Rate
15275
Lot Size Area
22174

Location

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169
Add your commute
LISTING UPDATED: 05/08/2024 05:39 PM

Property Details for 3355 Manning Avenue

StatusPending
MLS #24-374973
Days on Market37
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
Lot Size0.51 AC / 22,174 SF
CountyLos Angeles County

Location

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169
Add your commute

Building Information for 3355 Manning Avenue

Stories2Residences-Year Built1956Building Size-Lot Size0.51 AC / 22,174 SF

Payment Calculator

$40,729 per month

30 year fixed, 7.25% Interest

Principal and Interest

$39,839

Property Taxes

$890

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3355 Manning Avenue

Community / Development
Community / Development
  • Number Of Units: 18
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 1s,2s,3s
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $512,172
  • Net Operating Income: $323,251.00
  • Gross Income: $509,172
  • Cap Rate: 4.43%
  • Gross Rent Multiplier: $14.25
  • Total Annual Expense: 173645
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.509
  • Lot Size Square Feet: 22174
Parking Details
Parking Details
  • Parking Garage: Assigned, Covered Parking
  • Total Parking: 29
  • Parking Features: Assigned, Covered
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Window Unit(s), Other
  • Heating: Natural Gas, Forced Air
  • Heating Type: Natural Gas, Forced Air
  • Flooring: Hardwood
  • Equipment: Garbage Disposal, Gas Dryer Hookup, Refrigerator
  • Cooking Appliances: Cooktop - Gas, Gas, Oven-Gas
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-01-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $3,500.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,284.00
  • Unit Actual Rent: $36,536.00
  • Unit Projected Rent: $46,320.00
  • Like Units: 16
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $2,395.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $407,671.00
  • Assessed Improvement Percent: 64.67
  • Assessed Land Value: $222,668.00
  • Assessed Land Percent: 35.33
  • Assessed Total Value: $630,339.00

Property History for 3355 Manning Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3355 Manning Avenue

Taxable ValueLand$222,668Additions$408,551Total$631,219
Tax Record2023$10,675 ($890 / month)
Home Facts
Total Finished SqFt17,849 SqFtAbove Grade Finished SqFt17,849 SqFtLot Size22,167 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningLAR3CountyLOS ANGELESAPN4316-032-006

Schools near 3355 Manning Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Palms Elementary School
PublicK to 5

Palms Middle School
Public6 to 8

Alexander Hamilton Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.