722 South Manhattan Place

Los Angeles, CA 90005

$4,950,000
Price
9
Beds
21
Baths
11,965 Sq. Ft.
$414 / Sq. Ft.
11,965
Sq. Ft.
$414
per Sq. Ft.

Description

We are pleased to present a nineteen (19) unit apartment building located at 722 S Manhattan Place in Los Angeles, California. The subject property is located in a prime Koreatown location south of Wilshire Boulevard and west of S Western Avenue. Built in 1936, this property contains a great unit mix of twelve (12) studio / one-bathroom units, five (5) one-bedroom / one-bathroom units, and two (2) two-bedroom / two-bathroom units. The property is gated and secure with character, French Normandy style...We are pleased to present a nineteen (19) unit apartment building located at 722 S Manhattan Place in Los Angeles, California. The subject property is located in a prime Koreatown location south of Wilshire Boulevard and west of S Western Avenue. Built in 1936, this property contains a great unit mix of twelve (12) studio / one-bathroom units, five (5) one-bedroom / one-bathroom units, and two (2) two-bedroom / two-bathroom units. The property is gated and secure with character, French Normandy style architecture in an area that is surrounded by new construction just south of Wilshire Boulevard. Tenants will love living in the heart of Koreatown; just down the street from some of the trendiest retail, restaurant, and entertainment amenities in Los Angeles. The neighboring properties include a new construction 160-unit complex with luxury amenities, and a vacant lot with permits in progress for a new 60-unit, 59,666 SF 7-story edifice. Situated in a prime Koreatown location, this offering presents an excellent opportunity for any investor to capitalize on a rare, mid-size residential asset with interest only assumable financing at an attractive 5.09% interest rate in one of the trendiest markets of Los Angeles.
  1. Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 722 South Manhattan Place

Zoning
LAR4
Parcel Number
5093004011
Total Units
19.0
Living Area
11965
Source Living Area
Vendor Enhanced
Area
Hancock Park-Wilshire
Vacancy Rate
11%
Lot Size Area
7503

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495
Add your commute
LISTING UPDATED: 02/08/2024 12:01 AM

Property Details for 722 South Manhattan Place

StatusActive
MLS #24-353693
Days on Market90
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1936
Lot Size0.17 AC / 7,503 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495
Add your commute

Building Information for 722 South Manhattan Place

Stories3Residences-Year Built1936Building Size-Lot Size0.17 AC / 7,503 SF

Payment Calculator

$31,147 per month

30 year fixed, 7.25% Interest

Principal and Interest

$27,014

Property Taxes

$4,133

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 722 South Manhattan Place

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 19
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Market
  • Water Heaters: Yes
  • Additions Alterations: Yes
  • Water Heater Features: Water Heater Unit
Contract Info
Contract Info
  • Probate: No
  • Financing: Submit
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $406,613
  • Net Operating Income: $274,156.00
  • Gross Income: $418,226
  • Cap Rate: 5.54%
  • Gross Rent Multiplier: $11.84
  • Financial Info as Of: 01/31/2024
  • Vacancy Allow Dollar: $11,614.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 132457
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Lot Acreage: 0.1722
  • Lot Size Square Feet: 7503
  • Lot Description: Single Lot
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Built-Ins, Microwave, Refrigerator, Range/Oven
  • Common Walls: Attached
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis Court: None
  • New Construction: No
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 01-31-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,615.00
  • Unit Actual Rent: $1,615.00
  • Unit Projected Rent: $1,858.00
  • Like Units: 12
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,646.00
  • Unit Actual Rent: $1,646.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 5
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,325.00
  • Unit Actual Rent: $2,325.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,246,755.00
  • Assessed Improvement Percent: 31.32
  • Assessed Land Value: $2,734,114.00
  • Assessed Land Percent: 68.68
  • Assessed Total Value: $3,980,869.00

Property History for 722 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 722 South Manhattan Place

Taxable ValueLand$2,734,114Additions$1,262,137Total$3,996,251
Tax Record2023$49,594 ($4,133 / month)
Home Facts
Total Finished SqFt11,965 SqFtAbove Grade Finished SqFt11,965 SqFtLot Size7,501 SqFtStyleMulti-Family Res (5+ Units)Year Built1936ZoningLAR4CountyLOS ANGELESAPN5093-004-011

Schools near 722 South Manhattan Place

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

Magnolia Science Academy 6 School
Charter6 to 8

Los Angeles Senior High School
Public9 to 12

Everest Value
CharterK 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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722 South Manhattan Place is a multi-family home for sale in Los Angeles, CA 90005. This property was listed for sale on January 31, 2024 by Marcus & Millichap, it's currently listed at $4,950,000. It has been on the market for a total of 90 days and was last sold on August 3, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Wilton Place Elementary School, Magnolia Science Academy 6 School and Los Angeles Senior High School. 722 South Manhattan Place is a 9-bed, 21-bath, 11,965 sqft multi-family home built in 1936.

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, Jason Tuvia, DRE #01772495

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.