1220 South Manhattan Place

Los Angeles, CA 90019

$1,800,000
Last Sold Price
10
Beds
8
Baths
5,166 Sq. Ft.
$348 / Sq. Ft.
5,166
Sq. Ft.
$348
per Sq. Ft.

Description

1220 S. Manhattan Place is an 8-unit walk-up apartment building on a palm tree-lined street in Country Club Park. The building is comprised of six (6) 1-bdrm + 1bath units and two (2) 2bdrm + 1 bath units, on a 8,422 sq ft lot. The property boasts a walkscore of 91 (a walker's paradise) and offers tenants easy access to freeways and major employment hubs. The property is minutes away from DTLA, Jefferson Park and West Adams. This is a great opportunity for investors looking for solid returns in an...1220 S. Manhattan Place is an 8-unit walk-up apartment building on a palm tree-lined street in Country Club Park. The building is comprised of six (6) 1-bdrm + 1bath units and two (2) 2bdrm + 1 bath units, on a 8,422 sq ft lot. The property boasts a walkscore of 91 (a walker's paradise) and offers tenants easy access to freeways and major employment hubs. The property is minutes away from DTLA, Jefferson Park and West Adams. This is a great opportunity for investors looking for solid returns in an up-and-coming area.Value-add opportunity, rents are approximately 38% below market compared to renovated units in the area. 2 1B+1BA units will be delivered vacant. - 2 units delivered vacant, - No seismic retrofit required, - 9 parking spaces on-site. Cap rate and GRM assumes both vacant units leased at market rents. Call for an offering memorandum.

Listing Agent

  1. John Swartz

    John Swartz

    Listing Agent

    Compass

    DRE #01873487

Property Details for 1220 South Manhattan Place

Zoning
LAR1
Parcel Number
5080005003
Total Units
8.0
Living Area
5166
Source Living Area
Vendor Enhanced
Area
Hancock Park-Wilshire
Vacancy Rate
0
Lot Size Area
8442

Location

Listing Courtesy of Compass, John Swartz, DRE #01873487; Compass, Scott Syme Jr., DRE #02007311

Sold By Home Team Realty, Shawn Mehrannia, DRE #01874025

Add your commute
LISTING UPDATED: 09/21/2022 09:57 AM

Property Details for 1220 South Manhattan Place

StatusSold
MLS #22-181815
Days on Market8
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.19 AC / 8,442 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, John Swartz, DRE #01873487; Compass, Scott Syme Jr., DRE #02007311

Sold By Home Team Realty, Shawn Mehrannia, DRE #01874025

Add your commute

Virtual Tour

Building Information for 1220 South Manhattan Place

Stories2Residences-Year Built1958Building Size-Lot Size0.19 AC / 8,442 SF

Payment Calculator

$11,722 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,823

Property Taxes

$1,899

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1220 South Manhattan Place

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $142,492
  • Net Operating Income: $88,597.00
  • Gross Income: $142,492
  • Cap Rate: 4.73%
  • Gross Rent Multiplier: $13.65
  • Total Annual Expense: 53895
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1938
  • Lot Size Square Feet: 8442
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 9
  • Parking Features: Assigned
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-08-2022
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,344.00
  • Unit Actual Rent: $8,067.00
  • Unit Projected Rent: $11,370.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,691.00
  • Unit Actual Rent: $3,383.00
  • Unit Projected Rent: $4,390.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $103,258.00
  • Assessed Improvement Percent: 69.42
  • Assessed Land Value: $45,494.00
  • Assessed Land Percent: 30.58
  • Assessed Total Value: $148,752.00

Property History for 1220 South Manhattan Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1220 South Manhattan Place

Taxable ValueLand$1,500,000Additions$300,320Total$1,800,320
Tax Record2023$22,789 ($1,899 / month)
Home Facts
Total Finished SqFt5,166 SqFtAbove Grade Finished SqFt5,166 SqFtLot Size8,442 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningLAR1CountyLOS ANGELESAPN5080-005-003

Schools near 1220 South Manhattan Place

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
Charter - 6 to 8
Rating
School
Distance
Los Angeles Elementary School
PublicK to 5

Pio Pico Middle School
Public6 to 8

Los Angeles Senior High School
Public9 to 12

Global Education Academy Middle School
Charter6 to 8

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.

Similar Homes

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Similar Sold Homes

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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 Compass, John Swartz, DRE #01873487; Compass, Scott Syme Jr., DRE #02007311

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.