1318 North Mansfield Avenue

1318 North Mansfield Avenue

Los Angeles, CA 90028

$12,150,000
Price
32
Beds
32
Baths
20,590 Sq. Ft.
$590 / Sq. Ft.
20,590
Sq. Ft.
$590
per Sq. Ft.
an aerial view of a city
an aerial view of a city
a view of a patio with table and chairs with an umbrella
a view of a house with a small yard and potted plants
an aerial view of a house with outdoor seating
a living room with furniture and a large window
a living room with furniture and a large window
a living room with furniture potted plant and a chandelier
a view of a dining room with furniture and a chandelier fan
a kitchen with stainless steel appliances a stove a sink and a microwave
a bathroom with a sink vanity and a mirror
a bathroom with a shower sink and mirror
a bedroom with a bed and window
a view of a balcony with a potted plant
a view of hall way with furniture
a view of a balcony with chairs
a utility room with dryer and washer
a view of a white building with a fountain in front of it
a view of a patio with couches table and chairs
a balcony with furniture and wooden floor
a kitchen with a sink and a microwave
a view of a white house with large windows and a table and chairs
a view of a swimming pool with a balcony
a backyard of a house with barbeque oven table and chairs
a view of a city
a view of a city
a view of a city

Description

The 32-unit Mansfield Terrace Apartments located at 1318 N Mansfield Ave in Hollywood. Located just west of Highland Ave between De Longpre Ave & Fountain Ave, this property features a desirable mix of 32 one-bedroom apartments, including 5 unique one-bedroom units with lofts on the third floor and 50 parking spaces, including 10 EV charging stations. Constructed in 1988, 1318 N Mansfield Ave benefits from not being subject to the Los Angeles Rent Stabilization Ordinance, providing greater allowable...The 32-unit Mansfield Terrace Apartments located at 1318 N Mansfield Ave in Hollywood. Located just west of Highland Ave between De Longpre Ave & Fountain Ave, this property features a desirable mix of 32 one-bedroom apartments, including 5 unique one-bedroom units with lofts on the third floor and 50 parking spaces, including 10 EV charging stations. Constructed in 1988, 1318 N Mansfield Ave benefits from not being subject to the Los Angeles Rent Stabilization Ordinance, providing greater allowable rental increases. Significant renovations have been carried out in 10 units, enhancing them with luxury features such as wide plank vinyl flooring, modern shaker cabinets, quartz countertops, polished chrome fixtures, new paint, and smoothed ceilings. Additionally, these units have been upgraded with new stainless-steel appliances and air conditioning units. Each apartment boasts its own balcony, along with a washer & dryer combo and individual water heater. The property has also received extensive exterior upgrades, including exterior paint, a new intercom and security camera system, and a renovated courtyard complete with new patio furniture, a fireplace, a leasing office, a BBQ area, and updated elevator equipment. This offering represents an exceptional opportunity to acquire a well-maintained property with no deferred maintenance and strong existing cash flow, demonstrated by a 4.40% CAP rate with an additional 16% rental upside achievable as units turn and the proven renovation plan is continued. Eligible units were served rental increases in February 2024. With a high Walk Score of 95, the location provides superb access to schools, employment centers, and transit options, facilitating easy commutes to various nearby neighborhoods such as Hancock Park, La Brea, Fairfax, West Hollywood, and Beverly Hills. Located in the heart of Hollywood, an area synonymous with entertainment, culture, and luxury living, Mansfield Terrace Apartments offers investors a unique chance to own a piece of one of Los Angeles' most iconic and vibrant neighborhoods.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1318 North Mansfield Avenue

Zoning
LARD1.5
Parcel Number
5548024048
Total Units
32.0
Living Area
20590
Source Living Area
Vendor Enhanced
Area
Hollywood (C20)
Vacancy Rate
18%
Lot Size Area
21169

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute
LISTING UPDATED: 03/21/2024 05:07 PM

Property Details for 1318 North Mansfield Avenue

StatusActive
MLS #24-363613
Days on Market93
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1988
Lot Size0.49 AC / 21,169 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute

Building Information for 1318 North Mansfield Avenue

Stories3Residences-Year Built1988Building Size-Lot Size0.49 AC / 21,169 SF

Payment Calculator

$79,583 per month

30 year fixed, 7.25% Interest

Principal and Interest

$66,308

Property Taxes

$13,275

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1318 North Mansfield Avenue

Community / Development
Community / Development
  • Number Of Units: 32
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: 1bed 1 bath
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $893,007
  • Net Operating Income: $562,852.00
  • Gross Income: $920,626
  • Cap Rate: 4.63%
  • Gross Rent Multiplier: $13.20
  • Total Annual Expense: 330155
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.486
  • Lot Size Square Feet: 21169
  • Lot Size Dimensions: 138x153
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Gated Underground
  • Total Parking: 33
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-29-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,302.00
  • Unit Actual Rent: $73,661.00
  • Unit Projected Rent: $2,648.00
  • Like Units: 32
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $4,194,621.00
  • Assessed Improvement Percent: 32.21
  • Assessed Land Value: $8,829,899.00
  • Assessed Land Percent: 67.79
  • Assessed Total Value: $13,024,520.00

Property History for 1318 North Mansfield 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 1318 North Mansfield Avenue

Taxable ValueLand$8,829,899Additions$4,204,221Total$13,034,120
Tax Record2023$159,303 ($13,275 / month)
Home Facts
Total Finished SqFt20,590 SqFtAbove Grade Finished SqFt20,590 SqFtLot Size21,163 SqFtStyleMulti-Family Res (5+ Units)Year Built1988ZoningLARD1.5CountyLOS ANGELESAPN5548-024-048

Schools near 1318 North Mansfield Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Gardner Street Elementary School
Public - K to 5
Hubert Howe Bancroft Middle School
Public - 6 to 8
Hollywood Senior High School
Public - 9 to 12
Larchmont Charter School
Charter - K to 12
Rating
School
Distance
Gardner Street Elementary School
PublicK to 5

Hubert Howe Bancroft Middle School
Public6 to 8

Hollywood Senior High School
Public9 to 12

Larchmont Charter School
CharterK 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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More information about 1318 North Mansfield Avenue, Los Angeles, CA 90028

1318 North Mansfield Avenue is a multi-family home for sale in Los Angeles, CA 90028. This property was listed for sale on January 29, 2024 by Marcus & Millichap, it's currently listed at $12,150,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Gardner Street Elementary School, Hubert Howe Bancroft Middle School and Hollywood Senior High School. 1318 North Mansfield Avenue is a 32-bed, 32-bath, 20,590 sqft multi-family home built in 1988.

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 Marcus & Millichap, Neema Ahadian, DRE #01346750

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.